Wednesday, May 19, 2010

Slow Actual News Day? How 'Bout Ex-CEO Hassan Rumor-Mongering, Then?


No actual news? Okay -- the papers will apparently just make some up. Witness this, from a few days ago, at Boston.com -- you know the place must be awash in problems if even the slippery Ex-CEO of legacy Schering-Plough, Fred Hassan, declines to take a paycheck [my earlier backgrounder]:

. . . .[S]everal sources [say] that Biogen has been having a tough time finding outside candidates interested in the job, having talked to people like former Genentech executive Sue Desmond-Helmond (now chancellor of UCSF), ex-Schering-Plough head Fred Hassan, and Deborah Dunsire, who runs Millennium Pharmaceuticals in Cambridge, now a division of the Japanese company Takeda. . . .

Then there was this -- in full irony-alert -- a few days before that, from Reuters, of all places [and my much earlier backgrounder]:
. . . .Termeer insists . . . "We are on our way to overcoming the manufacturing challenges we have faced," he said in an interview, "but still ahead is the need to regain the trust of our patients and physicians. I have known this community for many years. In fact, I developed this market from its inception. This isn't the time to have someone else try to understand it."

Some industry experts agree.

"Clearly there is a challenge to the company's reputation, and clearly the products were not being made to the quality that is needed, and he needs to take ownership of that," said Fred Hassan, the former chief executive of drugmaker Schering-Plough. . . .

"But it is important that if investors ever consider changing him, whoever they replace him with must be immediately experienced in handling major manufacturing problems, and there are very few people like that," he added. "Sometimes it is better to bring in the right crew and get on with it. . . ."

Sheesh. Slow news day, indeed.

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