Mr. Hardy Brings
More than 30 Years of Industry Experience, Most Recently as
CEO of Genentech
Mr. Bienaimé Served as CEO for 18 Years
and as Chairman since 2015, Steering BioMarin to Profitability with
Major Expansion of Commercial Portfolio
Richard A.
Meier, Current Lead Independent Director, to Become Chair of
Board of Directors
Transition Effective December 1, 2023
SAN
RAFAEL, Calif., Nov. 1,
2023 /PRNewswire/ -- BioMarin Pharmaceutical Inc.
(Nasdaq: BMRN), a global biotechnology company dedicated to
transforming lives through genetic discovery, announced today that
Alexander Hardy has been named
president and chief executive officer, succeeding Jean-Jacques
Bienaimé, who will retire as chairman and CEO effective
December 1, 2023. Mr. Hardy,
currently the CEO of Genentech, will also serve as a director on
BioMarin's board of directors. Richard A.
Meier, BioMarin's lead independent director, will assume the
role of chair of the board of directors.
Mr. Hardy, 55, brings more than 30 years of experience in the
global healthcare and biotechnology industries, most recently
serving as CEO of Genentech, a member of the Roche Group. He has
served as CEO since 2019 and during his tenure demonstrated the
ability to deliver growth during a particularly challenging period
in which the company lost exclusivity of three of its biggest
products. In this most recent role at Genentech, the organization
has launched more than 10 new medicines and achieved leading
positions across oncology, neuroscience, hemophilia and
ophthalmology. Prior to that, Mr. Hardy held a number of senior
roles at Roche and Genentech, including as leader of Global Product
Strategy, co-chairing the Late Stage Portfolio Committee
responsible for the development strategy for all products in
late-stage development, and interfaced with the research and
partnering organizations on internal and external molecule
candidates. He also served as head of Asia Pacific for Roche. Prior to
Genentech and Roche, he held leadership roles at Novartis,
PathoGenesis and GSK.
"The Board engaged in a multi-year succession planning process
and a comprehensive search, seeking a leader who could build on the
company's success. We focused on candidates with experience driving
commercial growth and operational excellence, as well as a strong
understanding of science and product development. Based on these
criteria, the Board identified Alexander as the right leader to
bring BioMarin into the future, advancing care for patients with
serious genetic conditions and driving industry-leading growth,"
said Mr. Meier. "On behalf of the Board, I would like to
acknowledge JJ's exceptional leadership over the past 18 years in
growing BioMarin into a leading, diversified genetic disease
company. He has overseen the development and commercialization of
seven medicines and through this led the transformation of the
company into a profitable, fully integrated global business. Thanks
to JJ, BioMarin is ideally positioned for its next chapter with
Alexander at the helm."
Mr. Bienaimé, 70, joined BioMarin in May
2005, when the company had a single marketed product and
approximately $26 million in annual
revenues. Under Mr. Bienaimé's leadership, BioMarin has grown
significantly and is expected to reach annual revenues of well over
$2 billion in 2023, driven by the
company's globally leading enzyme replacement therapy business, and
the recent introductions of VOXZOGO® for achondroplasia
and ROCTAVIAN®, the world's first gene therapy for
hemophilia A. During his tenure Mr. Bienaimé led a major expansion
of BioMarin's workforce, from about 300 employees only in
the United States when he joined
the company to more than 3,000 people in almost 80 countries around
the world today.
"It has been a privilege leading BioMarin's exceptionally
talented team over the past 18 years, as we've worked together to
deliver medicines that have transformed care for people with
genetic diseases, building BioMarin into the successful company it
is today," said Mr. Bienaimé. "Alexander brings an impressive track
record of successfully commercializing new products for patients
and prioritizing operational efficiency. I look forward to working
with Alexander as he takes on this new role."
Mr. Bienaimé will remain a member of BioMarin's board of
directors until the company's 2024 Annual Meeting of Stockholders,
and he will serve as an advisor to the company through the end of
2024.
"I deeply admire the strong foundation and purpose-driven
culture that JJ and the BioMarin team have built and am honored to
lead BioMarin at such a pivotal time in the company's history,"
said Mr. Hardy. "I am excited by the tremendous potential of
BioMarin's portfolio and the opportunity that lies ahead in
unlocking the full value of VOXZOGO and ROCTAVIAN and behind them
the earlier stage pipeline. I look forward to working alongside the
team to reach more patients with our existing medicines and product
candidates, while at the same time ensuring we deliver on our
ambitious goals for all our stakeholders."
About BioMarin
Founded in 1997, BioMarin is a global
biotechnology company dedicated to transforming lives through
genetic discovery. The company develops and commercializes targeted
therapies that address the root cause of genetic conditions.
BioMarin's unparalleled research and development capabilities have
resulted in eight transformational commercial therapies for
patients with rare genetic disorders. The company's distinctive
approach to drug discovery has produced a diverse pipeline of
commercial, clinical, and pre-clinical candidates that address a
significant unmet medical need, have well-understood biology, and
provide an opportunity to be first-to-market or offer a substantial
benefit over existing treatment options. For additional
information, please visit www.biomarin.com.
Forward-Looking Statements
This press release contains
forward-looking statements about the business prospects of BioMarin
Pharmaceutical Inc. (BioMarin), including, without limitation,
statements about: expected leadership changes at BioMarin,
including the retirement of Mr. Bienaimé and his continuing as
director and advisor, Mr. Hardy's appointment as president and CEO
and director, and Mr. Meier assuming the role of chair; the
expectations of total revenues for the full-year 2023; BioMarin
being ideally positioned for its next chapter with Mr. Hardy as
president and CEO; and potential growth opportunities and trends,
including that BioMarin expects growth in revenues driven by
BioMarin's enzyme replacement therapy business and recent
introductions of VOXZOGO and ROCTAVIAN. These forward-looking
statements are predictions and involve risks and uncertainties such
that actual results may differ materially from these statements.
These risks and uncertainties include, among others: BioMarin's
success in implementing leadership changes, BioMarin's success in
the commercialization of its commercial products, impacts of
macroeconomic and other external factors on BioMarin's operations;
results and timing of current and planned preclinical studies and
clinical trials and the release of data from those trials;
BioMarin's ability to successfully manufacture its commercial
products and product candidates; the content and timing of
decisions by the FDA, the European Commission and other regulatory
authorities concerning each of the described products and product
candidates; the market for each of these products; actual sales of
BioMarin's commercial products; and those factors detailed in
BioMarin's filings with the Securities and Exchange Commission
(SEC), including, without limitation, the factors contained under
the caption "Risk Factors" in BioMarin's Quarterly Report on Form
10-Q for the quarter ended June 30,
2023 as such factors may be updated by any subsequent
reports. Stockholders are urged not to place undue reliance on
forward-looking statements, which speak only as of the date hereof.
BioMarin is under no obligation, and expressly disclaims any
obligation to update or alter any forward-looking statement,
whether as a result of new information, future events or
otherwise.
BioMarin® and VOXZOGO® are registered
trademarks of BioMarin Pharmaceutical Inc., or its affiliates.
ROCTAVIAN® is a trademark of BioMarin Pharmaceutical
Inc., with registration in Europe
and pending in the U.S. All other brand names and service marks,
trademarks and other trade names appearing in this release are the
property of their respective owners.
Contacts:
|
|
Investors
|
Media
|
Traci
McCarty
|
Marni
Kottle
|
BioMarin
Pharmaceutical Inc.
|
BioMarin
Pharmaceutical Inc.
|
(415) 455-7558
|
(415)
218-7111
|
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SOURCE BioMarin Pharmaceutical Inc.