Elan’s Kelly Martin named biotech’s worst CEO — Adam Feuerstein, who writes for TheStreet.com, selected Martin because of his role in the debacle surrounding Alzheimer’s drug bapineuzumab. Martin painted the treatment as a miracle cure, buoying consumer and investor hopes alike, even as actual data showed little to celebrate. Then, when the bapineuzumab glitter wore off, Elan sank into a tailspin. [Source: TheStreet.com, via Forbes]
Sanofi-Aventis abruptly dumps executive VP — In a terse release, the French drug maker announced that Jean-Claude Leroy, executive vice president of finance and legal and a 23-year Sanofi veteran, will resign his post. His position will be split between two new SVPs, both currently members of upper management. [Source: Pharmalot]
Biotechs beg for congressional aid — Industry representatives are holding their hands out to Capitol Hill, perhaps inspired by Detroit. The companies hope for an expansion of the current legislation that lessens their tax burden, especially in the years before they turn profits. Now, instead of mere tax breaks, the companies want the option of full loans. [Source: WSJ Health Blog]
Speaking of congress, DTC ads may face scrutiny — Pundits are predicting that a potential ban on direct-to-consumer advertising may take center stage at some early point in the sessions of the new Congress. [Source: PharmaTimes]
