Biogen EVP Kingsley departing

Biogen Inc. (NASDAQ:BIIB) said EVP of Global Commercial Operations Tony Kingsley will leave the company. EVP of Pharmaceutical Operations and Technology John Cox will fill the position on an interim basis while the company searches for a replacement. Kingsley had held the position since 2011.

On July 24, Biogen lost $20 billion in market cap after it said it was lowering its 2015 guidance for EPS and sales growth, primarily due to slow sales of Tecfidera dimethyl fumarate. At the time, Kingsley said the company had anticipated more patients switching from injectable multiple sclerosis therapies to oral Tecfidera as well as new starts, primarily in the U.S. and Germany (see BioCentury Extra, July 24). ...