MiMedx shares swoon as purge claims CEO; Those big cuts in drug prices you heard about? Pfiz­er has oth­er ideas

→ Be­sieged by shorts with a Jus­tice De­part­ment probe re­port­ed­ly un­der way, the purge at MiMedx $MDXG has now led to the ex­it of CEO Park­er “Pe­te” Pe­tit and COO William “Bill” Tay­lor. The au­dit com­mit­tee at the biotech has been do­ing its own in­ter­nal in­ves­ti­ga­tion, which has al­ready led to the de­par­ture of the CFO and trea­sur­er. David Coles was named in­ter­im CEO. “The Board is con­fi­dent that now is the right time for MiMedx to tran­si­tion its lead­er­ship team as we look to the fu­ture and pre­pare our Com­pa­ny for its next chap­ter,” said chair­man Charles Evans. The biotechs shares swooned on the lat­est news, plung­ing 26%.

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