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More Drama At Sarepta Therapeutics (SRPT) As Chairman Of The Board Abruptly Steps Down, Interim Chairman Named


7/31/2014 3:28:22 PM

More Drama At Sarepta Therapeutics As Chairman Of The Board Abruptly Steps Down, Interim Chairman Named More Drama At Sarepta As Chairman Of The Board Abruptly Steps Down, Interim Chairman Named
August 1, 2014
By Krystle Vermes, BioSpace.com Breaking News Staff

This past July, Sarepta Therapeutics’ (SRPT) board of directors told CEO and President Chris Garabedian that he would no longer attend meetings with the U.S. Food and Drug Administration. William Goolsbee, chairman of the company’s board of directors, was at the head of the board during the management meeting when the decision was made. The goal was to remove Garabedian from any decisions made pertaining to clinical trial design and patient safety, according to the Business Journals.

Now Goolsbee has stepped down from his position and an interim chairman has been named.

John Hodgman, a member of Sarepta’s board of directors, took over for Goolsbee on June 30. There is no word yet on how this will directly affect Garabedian, who has been questioned for his leadership as of late. Garabedian terminated Chief Scientific Officer Arthur Krieg a couple of weeks into July, and he has allegedly been difficult to work with in the past. Richard Barry, and former Chief Scientific Officer Arthur Krieg, has allegedly raised concerns about Garabedian’s management style as well.

Hodgman could give power back to Garabedian, but there is no telling if this is on his agenda. Despite Goolsbee stepping down, the company has made it a priority to let the public know that the team is still holding strong, despite the shake-up.
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“John brings a wealth of operational expertise to his role as interim chairman of Sarepta, drawing upon his experience as chief financial officer of Intermune and many years of serving in senior leadership positions, including as Chairman and CEO of public companies, within the industry,” said Garabedian, following the news.

In terms of its accomplishments in the medical field, Sarepta appears to be moving along nicely. On July 29, the director of the U.S. Food and Drug Administration’s Center for Drug Evaluation, Janet Woodcock, sent out an email that mentioned Sarepta Therapeutics and its drug, Duchenne's muscular dystrophy, eteplirsen. Her message stated that the FDA is "willing to explore the use of all potential pathways for the approval of drugs for Duchenne muscular dystrophy, including accelerated approval."

Sarepta Therapeutics is trying to file approval for its Duchenne’s muscular dystrophy drug by the end of 2014.

“John will be a great asset to Sarepta as we prepare for the submission of a New Drug Application to the U.S. Food and Drug Administration for eteplirsen for the treatment of Duchenne muscular dystrophy and its potential launch to the patients and families in need of new treatment options,” Garabedian continued.

Only time will tell if Garabedian will form a relationship with Hodgman that gives him more leeway in his position as CEO.

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