Clozel’s Actelion R&D spinout gets a name; GSK’s new CEO won’t make as much as her predecessor
→ Jean-Paul Clozel has a name for his biotech spinout. Once J&J’s $30 billion deal to acquire Actelion goes through, the R&D side of the business will launch under the name Idorsia. When the deal was originally announced, Clozel had pencilled in NewCo for his next venture.
→ Aurinia $AUPH took advantage of a rising share price to round up $150 million in a new offering. But the stock took a beating Tuesday after the biotech decided to offer the shares at a deep discount.
→ New GSK CEO Emma Walmsley won’t be paid as well as her predecessor, Andrew Witty. The pharma giant overall is cutting the pay packet by 25% for Walmsley, who is stepping up to her first job as CEO. The company performed a review of its pay practices, aware of some criticism it’s been getting as generic Advair makes its way to the market.