An Embarassed GlaxoSmithKline Spanks Two Key Executives
Published: Aug 25, 2010
Pharmalot -- File this under ‘what were they thinking?’ Two years ago, Glaxo ponied up $720 million to buy Sirtris Pharmaceuticals, which is famous for trying to develop medicines based on a chemical in red wine known as resveratol. This generated intense interest because it may have an effect on aging - you know, the fountain of youth (back story). The science has since been questioned, but meanwhile, two key Sirtris execs assumed important roles within Glaxo’s hiearchy - Michelle Dipp became senior vp of Glaxo’s Center of Excellence for External Drug Discovery and Christoph Westphal now heads SR One, a venture capital unit.