Scott Smith----on BOD of TTNP---Was president & COO who helped launch the third biggest moneymaker for Celgene (CELG), unexpectedly departed the No. 3 biotech late Monday, just a year after he took over as chief operating officer and president. Chief Executive Mark Alles took over his primary duties, and also took over leadership of the company's hematology and oncology, and inflammation and immunology franchises, as well as manufacturing, regulatory and clinical development. Scott made significant contributions to Celgene, including the global launch of Otezla. Smith's departure follows several struggles in Celgene's inflammation and immunology drug franchise.Sales growth of Otezla, which was approved in 2014 to treat psoriatic arthritis and plaque psoriasis, slowed last year. In 2016, sales jumped nearly 116% to $1.02 billion. But in 2017, Otezla revenue was up just 26% to $1.28 billion. Also late last year, Celgene terminated several trials in Crohn's disease, prompting the firm to cut its long-term guidance. The guidance cut came during a quarter in which Otezla sales widely missed analyst expectations.
After reading this, one might wonder if Scott's performance was "up to par".----Well----He's here on the TTNP BOD.
News 
Market Data 
Discover 
AI
