Biotech Values

[DewDiligence]

RVNC—…the leadership and culture that caused the [manufacturing] failure are the same ones that rubber-stamped Joshi's résumé to begin with. Joshi's competence was never in question prior to the failure.

I would submit that Joshi was eminently qualified to be RVNC's COO, which was the job he was hired to do.

From RVNC’s 2015 PR announcing Joshi’s hiring:

https://investors.revance.com/news-releases/news-release-details/revance-appoints-abhay-joshi-phd-chief-operating-officer

Dr. Joshi began his career at Allergan, Inc. During his 18-year tenure at the company, he had increasing management responsibilities in pharmaceutical development, manufacturing, and global operations, rising to Vice President, Specialty Pharmaceuticals Operations, where he managed global biologics operations for the BOTOX product lines, and also managed Allergan's Latin America and Asia Pacific pharmaceutical operations.

Although Joshi was concerned with manufacturing, as noted above, he was certainly not a manufacturing specialist. Why Joshi was transitioned from being a generalist COO to being the point man for Daxi manufacturing remains unclear.