SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 29, 2019
(Exact name of registrant as specified in its charter)
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(Commission File Number)
(IRS Employer Identification No.)
225 Binney Street, Cambridge, Massachusetts 02142
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Registrant’s telephone number, including area code: (617) 679-2000
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Common Stock, $0.0005 par value
The Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On September 29, 2019, Michael D. Ehlers, M.D., Ph.D., notified Biogen Inc. (the “Company”) that he will step down as the Company’s Executive Vice President, Research and Development. Alfred Sandrock, Jr., M.D., Ph.D., Executive Vice President, Chief Medical Officer, has been appointed as Executive Vice President, Research and Development of the Company, effective immediately.
Item 7.01 Regulation FD Disclosure.
On October 1, 2019, the Company issued a press release being furnished as Exhibit 99.1 and incorporated herein by reference. The press release being furnished in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall such document be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Item 8.01 Other Events.
The Company announced that Alphonse Galdes, Ph.D., has been appointed as the Company’s Executive Vice President, Pharmaceutical Operations and Technology.
Item 9.01 Financial Statements and Exhibits.
The exhibit listed below is furnished as part of this Current Report on Form 8-K.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/Suzanne Murray
Corporation Counsel and Assistant Secretary
Date: October 1, 2019
Biogen Announces Leadership Update
Dr. Alfred Sandrock is named Executive Vice President, Research and Development and continues as Chief Medical Officer
Dr. Alphonse Galdes appointed Executive Vice President, Pharmaceutical Operations and Technology
Dr. Michael Ehlers, Executive Vice President, Research and Development has decided to leave Biogen
Cambridge, Mass. - October 1, 2019 - Biogen (Nasdaq: BIIB) today announced an update to its senior leadership team. Effective immediately, Alfred Sandrock, Jr., M.D., Ph.D., has been named Executive Vice President, Research and Development, in addition to his responsibilities as Chief Medical Officer, and Alphonse Galdes, Ph.D., has been appointed Executive Vice President, Pharmaceutical Operations and Technology. Michael D. Ehlers, M.D., Ph.D., has decided to step down as Executive Vice President, Research and Development, and will leave Biogen effective October 11, 2019, to pursue a new career opportunity.
“Both Al and Alphonse are seasoned and respected leaders at Biogen. Their accomplishments in the scientific community are well-recognized,” said Michel Vounatsos, Chief Executive Officer at Biogen. “I’m pleased we have the benefit of their long-standing experience and proven track-record, which will be instrumental as we aim to sustain leadership in our core MS business and expand our neuroscience portfolio.
"I also want to thank Mike for his significant contributions and for the substantial progress made in our pipeline during his three years at Biogen. He has transformed the R&D organization and I believe he has built the best neuroscience team in the industry.”
“For more than two decades at Biogen I’ve been fortunate to work with incredibly talented colleagues committed to patients, following the science and making a difference in this world,” said Sandrock. “The societal burden of neurological diseases is massive, and I am proud of the research and development programs under way at Biogen. As a physician and scientist, I will continue to be focused on advancing our pipeline with the goal of pioneering new scientific breakthroughs and bringing new treatment options to patients.”
Ehlers said, "I am very proud of the accomplishments we have achieved in the past three years. With nine read-outs expected by the end of 2020, I believe Biogen is in a unique position to bring breakthroughs in neuroscience and I am confident in the team in place to realize the full potential of a significantly expanded pipeline. I believe it is the right time to pass the baton, and I am excited about taking on a new challenge in venture capital and biotech with the same broad goal of converting differentiated science into meaningful medicines for patients.”
Sandrock has served on Biogen’s Executive Committee since 2015. He was named Chief Medical Officer in 2012 and since joining the company in 1998, has held several senior executive positions, including Senior Vice President of Development Sciences, Senior Vice President of Neurology Research and Development and Vice President of Clinical Development, Neurology. Sandrock received his B.A. in human biology from Stanford University, an M.D. from Harvard Medical School and a Ph.D. in neurobiology from Harvard University. He completed an internship in medicine, a residency and chief residency in neurology and a clinical fellowship in Neuromuscular Disease and Clinical Neurophysiology (electromyography) at Massachusetts General Hospital.
Galdes is Executive Vice President, Pharmaceutical Operations and Technology of Biogen and has served on the Executive Committee since September 2019. Since joining Biogen in 1995, Galdes has held several senior executive positions, including most recently as Senior Vice President, Asset Development and Portfolio Management from November 2015 to September 2019 and Senior Vice President, Technical Development from October 2010 to November 2015. Galdes received his B.S. in
Chemistry and Biology and his M.S. in Biochemistry from the University of Malta and received his Ph.D. in Biochemistry from Oxford University, where he was a Rhodes Scholar. Galdes served as a Research Associate at the Department of Biological Chemistry at Harvard Medical School.
At Biogen, our mission is clear: we are pioneers in neuroscience. Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases as well as related therapeutic adjacencies. One of the world’s first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray and Nobel Prize winners Walter Gilbert and Phillip Sharp, and today has the leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, commercializes biosimilars of advanced biologics and is focused on advancing research programs in multiple sclerosis and neuroimmunology, neuromuscular disorders, movement disorders, Alzheimer’s disease and dementia, ophthalmology, immunology, neurocognitive disorders, acute neurology and pain.
We routinely post information that may be important to investors on our website at www.biogen.com. To learn more, please visit www.biogen.com and follow us on social media - Twitter, LinkedIn, Facebook, YouTube.
Biogen Safe Harbor
This news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, relating to our business activities; our strategy and plans; the potential of our commercial business and pipeline programs; clinical development programs and data readouts; the expected benefits from the appointment of Sandrock as Executive Vice President, Research and Development; and the expected benefits from the appointment of Galdes as Executive Vice President, Pharmaceuticals Operations and Technology. These forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “except,” “forecast,” “intend,” “may,” “plan,” “potential,” “possible,” “will,” “would” and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. You should not place undue reliance on these statements.
These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including, without limitation: risks relating to management and key personnel changes; difficulties in obtaining and maintaining adequate coverage, pricing and reimbursement for our products; failure to protect and enforce our data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; uncertainty of success in developing, licensing or acquiring other product candidates or additional indications for existing products; failure to compete effectively due to significant product competition in the markets for our products; the occurrence of adverse safety events; delay in approval of our drug candidates; potential future healthcare reforms; product liability claims; and third party collaboration risks. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our most recent annual or quarterly report and in other reports we have filed with the U.S. Securities and Exchange Commission. These statements are based on our current beliefs and expectations and speak only as of the date of this news release. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
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