Top of the morning to you, and a fine one it is. Sunny skies and mild breezes are enveloping the Pharmalot campus once again. And to celebrate, we are brewing another cuppa stimulation and inviting you to join us. Our choice today is blackberry hibiscus. Remember, a prescription is not required. So no need to mess with rebates or even TrumpRx. Meanwhile, here are a few items of interest. Hope you have a meaningful and productive day and, of course, do stay in touch. …
Pfizer executive Andrew Baum, a former analyst at Citibank who joined the drugmaker in June 2024 to redirect its strategic approach, has left his role as an executive vice president and chief strategy and innovation officer, STAT writes. He will continue as an adviser to Pfizer chief executive officer Albert Bourla until the end of the year. Baum was part of a mini-trend of large pharmaceutical companies hiring former analysts at investment banks, who closely track multiple companies in order to help investors understand their businesses, as strategic leaders. Ronny Gal, a longtime analyst at Bernstein, became chief strategy and growth officer at Novartis in 2022. Christopher Shibutani joined Bristol Myers Squibb as chief strategy officer last year.
A U.S. judge is expected to sentence OxyContin maker Purdue Pharma to forfeit $225 million to the U.S. Department of Justice on Tuesday, clearing the way for the company to finalize a settlement of thousands of lawsuits it faces over its role in the opioid crisis, the Associated Press tells us. The penalty was agreed to in a 2020 pact to resolve federal civil and criminal probes it was facing. If the judge signs off, other penalties will not be collected in return for Purdue settling the other lawsuits. The settlement was approved by another judge last year and could take effect on May 1. It requires members of the Sackler family who own the company to pay up to $7 billion to state, local, and Native American tribal governments, some individual victims, and others.
