Falling behind giant migraine drug rivals, Alder ousts founder Randy Schatzman — could a buyout be next?
After 14 years at the helm of Alder BioPharmaceuticals $ALDR, company co-founder Randy Schatzman is out in what the company calls a “mutual decision” with the board that it’s time for new leadership — just ahead of its first marketing application.
Schatzman will be temporarily replaced by Paul Cleveland, who was CEO at the gene therapy company Celladon before it crashed and burned in 2015, eventually serving as a shell for a reverse merger. Earlier he had been an executive at Aragon (apalutamide), acquired by J&J, which is what Alder prefers to focus on.
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