British Biotech goes Canadian
British Biotech (LSE:BBG; BBIOY) found a seasoned product development executive to replace outgoing CEO Keith McCullagh, but London investors took a wait-and-see attitude as BBG edged down 1.5p to 36p on the week.
The new CEO, Canadian Elliot Goldstein, will be challenged to restore the company's credibility, which has been tarnished by accusations that it misled investors about clinical development of its compounds.
Goldstein, who is not commenting on his plans until after he formally joins the company in late September, is a physician who has spent his career in big pharma, first at Sandoz and then at SmithKline Beecham, where he is currently senior vice president and director of worldwide strategic product development.
At Sandoz he eventually