The right mix mat­ters in bio­phar­ma lead­er­ship

Break­ing the bio­phar­ma glass ceil­ing isn’t just a moral is­sue; it’s a share­hold­er is­sue. McK­in­sey re­port­ed in a re­cent study that com­pa­nies in the top quar­tile for gen­der di­ver­si­ty are 15 per­cent more like­ly to gen­er­ate fi­nan­cial re­turns above the in­dus­try av­er­age; those in the top quar­tile for racial and eth­nic di­ver­si­ty are 35 per­cent more like­ly to do so.

The right mix of ex­pe­ri­ence, per­spec­tives and back­grounds is al­so a pa­tient is­sue. Whether it’s choos­ing the right end­point for a prospec­tive ther­a­py or mar­ket­ing a prod­uct in a way that will en­able physi­cians and pa­tients to ac­cess the right med­i­cine at the right time, more com­pa­nies are be­gin­ning to un­der­stand the need to di­ver­si­fy their ranks and groom lead­er­ship teams as di­verse as the clin­i­cians and fam­i­lies they’re try­ing to reach. It’s good busi­ness and it’s good for pa­tients.

There are bio­phar­ma com­pa­nies mak­ing in­cred­i­ble progress in the di­ver­si­ty and in­clu­sion space. Oth­ers want to di­ver­si­fy and are ask­ing for help to broad­en ex­ec­u­tive and board search­es out­side of what are of­ten ho­moge­nous per­son­al net­works. That’s why the Biotech­nol­o­gy In­no­va­tion Or­ga­ni­za­tion — the world’s largest biotech trade and ad­vo­ca­cy group — is launch­ing a new in­dus­try­wide ini­tia­tive called The Right Mix Mat­ters.

Based on my con­ver­sa­tions, a crit­i­cal mass in biotech al­ready knows that we have a pipeline prob­lem. We should be fas­tid­i­ous in our ef­forts to pro­mote more women, mi­nori­ties and LGBT ex­ec­u­tives up the ranks. Many of us in C-suites and board rooms do feel a sense of ur­gency: More in­sti­tu­tion­al in­vestors and ven­ture cap­i­tal­ist are look­ing at lead­er­ship di­ver­si­ty as a fac­tor in where to put cap­i­tal. Frankly, this needs to be a wake-up call for our sec­tor.

Na­tion­al­ly, on­ly sev­en to nine per­cent of CEO po­si­tions at biotech com­pa­nies are filled by women, ac­cord­ing to na­tion­al sur­veys by Lift­stream. It still hap­pens that when I go to net­work­ing events with my fel­low CEOs, I’m of­ten the on­ly woman in the room.

Like al­most every fe­male physi­cian of my era in Scot­land, I re­ceived my med­ical train­ing dur­ing a time when it was as­sumed we would quit our jobs or work part-time when start­ing a fam­i­ly. As a doc­tor in train­ing, I lost count of the num­ber of times I was asked to make a cup of tea for every­one while my male col­leagues talked about their ca­reer paths with the con­sul­tants.

I be­came a doc­tor be­cause I care deeply about the wel­fare of pa­tients, and be­came a rheuma­tol­o­gist be­cause I’ve al­ways been at­tract­ed to the most con­found­ing ar­eas of med­i­cine. I dis­cov­ered help­ing pa­tients suf­fer­ing from vex­ing con­di­tions al­most al­ways re­quired more than even the most de­ter­mined doc­tor’s best ef­forts. The in­ter­ven­tions of the rheuma­tol­o­gist, nephrol­o­gists and oth­er spe­cial­ists might be life-sav­ing, but it was the phys­io­ther­a­pist, wound nurse and oc­cu­pa­tion­al ther­a­pist who made pa­tients’ lives liv­able. This recog­ni­tion that di­verse back­grounds pro­duce the best so­lu­tions has lived with me ever since.

My ca­reer took me to the Unit­ed States for a role in the bio­phar­ma­ceu­ti­cal in­dus­try in clin­i­cal de­vel­op­ment. I put in for a trans­fer on the com­mer­cial side, where­upon the head of mar­ket­ing and sales in­formed me, “You are fe­male, Scot­tish and an M.D. You’re just not the right fit.” For­tu­nate­ly, that com­pa­ny even­tu­al­ly got new lead­er­ship, and I found a cham­pi­on in the C-suite who saw some­thing in me. He spon­sored for a com­mer­cial lead­er­ship role even though I didn’t yet have all the ex­pe­ri­ence of the “per­fect” can­di­date. With­out a cham­pi­on will­ing to open the door to that first crack at broad­er lead­er­ship roles, many women and mi­nori­ties in cor­po­rate Amer­i­ca lan­guish in mid­dle man­age­ment in per­pe­tu­ity —un­able to move up and in­to the C-suite.

But I did move up. When I be­came a can­di­date for my first CEO role, I hired a coach to help me in­crease my ef­fec­tive­ness as a com­mu­ni­ca­tor. I pos­sessed that fa­mil­iar fem­i­nine trait of fail­ing to take enough per­son­al cred­it for my role in the suc­cess­es of teams I led. My coach helped me un­der­stand that in­ter­view­ing with boards is not the time to be mod­est. He was right. I learned how to bet­ter sell my cre­den­tials, ex­pe­ri­ence and abil­i­ties, be­com­ing one of the for­tu­nate few to crack the glass ceil­ing in the bio­phar­ma­ceu­ti­cal in­dus­try.

As the cen­ter­piece of BIO’s ef­fort, BIO Board­list went live this month. It’s a search­able on­line data­base of di­verse tal­ent where ex­ec­u­tives can nom­i­nate promis­ing tal­ent and where search com­mit­tees can find lead­er­ship can­di­dates that meet their busi­ness needs. The tool was de­ployed by the high-tech in­dus­try in 2017 in the wake of a firestorm ig­nit­ed by the con­tro­ver­sial writ­ings of a Google en­gi­neer that sparked an in­dus­try­wide dis­cus­sion about sex­ism. Now, BIO is bring­ing this tool to the bio­phar­ma sec­tor.

We al­ready have near­ly 50 out­stand­ing, pre-vet­ted can­di­dates who are search­able in BIO Board­list. Our job now is to add more high­ly qual­i­fied, di­verse lead­ers to the data­base. Once we do, BIO Board­list will be es­pe­cial­ly help­ful for small­er and emerg­ing bio­phar­ma com­pa­nies that do not yet have a ro­bust hu­man re­sources func­tion or the means to hire ex­ec­u­tive re­cruiters. BIO Board­list can help com­pa­nies iden­ti­fy, lift up and in­clude di­verse ex­ec­u­tives with lead­er­ship qual­i­fi­ca­tions and as­pi­ra­tions.

BIO al­so launched a sec­ond re­source — a di­ver­si­ty and in­clu­sion toolk­it. We have pooled to­geth­er the best re­sources from suc­cess­ful pro­grams across BIO mem­ber com­pa­nies. Com­pa­nies will find spe­cif­ic HR tem­plates that can be down­loaded and schol­ar­ly pieces and train­ing cours­es on such top­ics as un­con­scious bias, men­tor­ing and spon­sor­ship.

As a prac­tic­ing rheuma­tol­o­gist, I learned that it can take a vil­lage to give pa­tients a life worth liv­ing. Work­ing my way up the ranks to the CEO’s of­fice in bio­phar­ma, I have dis­cov­ered the same of­ten holds true to de­vel­op a med­i­cine worth tak­ing or a clin­i­cal pro­gram worth fund­ing. If you’re lead­ing a biotech com­pa­ny and want to do right by your con­sumers, in­vestors and share­hold­ers, the right mix re­al­ly does mat­ter.


Dr. He­len Tor­ley is CEO of Halozyme Ther­a­peu­tics in San Diego and chairs BIO’s Com­mit­tee on Work­force De­vel­op­ment, Di­ver­si­ty and In­clu­sion. Biotech Voic­es is a con­tributed col­umn writ­ten by se­lect End­points News sub­scribers.

Com­mu­ni­cat­ing the val­ue of pre­ci­sion med­i­cine

By Natasha Cowan, Content Marketing Manager at Blue Latitude Health.
Many stakeholders are confused by novel precision medicines, including patients and healthcare professionals. So, how can industry help them to navigate this complexity?

Precision medicine represents a new paradigm in healthcare. It embodies the shift from treating many patients with the same therapy, to having the tools to identify the best treatment for every patient.

(Image: Associated Press)

Amarin emerges from an ex­pert pan­el re­view with a clear en­dorse­ment for Vas­cepa and high odds of suc­cess when the FDA weighs in for­mal­ly

Several FDA experts who gathered Thursday to consider the landmark approval of Vascepa to reduce cardio events in an at-risk population voiced their unease about various aspects of the efficacy and safety data, or ultimately the population it should be used to treat. But the overwhelming belief that the data pointed to the drug’s benefit and clearly outweighed risks carried the day for Amarin.

The panel voted unanimously (16 to 0) to support the company’s positive data presentation — backing an OK for expanding the label to include reducing cardio risk. The vote points Amarin $AMRN down a short path to a formal decision by the FDA, with the odds heavily in its favor. Chances are the rest of the questions about the future of this drug will be hashed out in the label’s small print.

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What does $62B buy you these days? A lot, says Take­da ex­ecs as the phar­ma play­er promis­es a block­buster R&D fu­ture

First comes the $62 billion buyout. Then comes the asset auction and reorganization to pay down debt. Now comes the detailed pledge of a bigger, brighter future in drug development.

That’s where Takeda finds itself on R&D day today, about 11 months after closing on their Shire acquisition. R&D chief Andy Plump is joining CEO Christophe Weber and other top members of the team to outline a new set of priorities in the greatly expanded pipeline at Takeda, which has jumped into the top ranks of the world’s pharma giants in the wake of the Shire deal.

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BeiGene CEO John Oyler at an Endpoints event in Shanghai, October 2018 (Credit: Endpoints News/PharmCube)

UP­DAT­ED: Chi­na's BeiGene scores first-ever FDA ap­proval — but can they carve up J&J's block­buster fran­chise?

Weeks after Amgen took a $2.7 billion stake in BeiGene, the Beijing-based biotech has secured its first-ever FDA approval for zanubrutinib, a BTK inhibitor, months ahead of schedule.

BeiGene’s drug, branded as Brukinsa, has secured accelerated approval for adult patients with mantle cell lymphoma (MCL) — a typically aggressive, rare, form of blood cancer — who have received at least one prior therapy.

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GSK's asth­ma bi­o­log­ic Nu­cala scores in rare blood dis­or­der study

GlaxoSmithKline’s asthma drug Nucala, which received a resounding FDA rejection for use in chronic obstructive pulmonary disease (COPD) last year, has shown promise in a rare blood disorder.

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Mer­ck buys a fledg­ling neu­rode­gen­er­a­tive biotech spawned by an old GSK dis­cov­ery al­liance. What’s up with that?

Avalon Ventures chief Jay Lichter has a well-known yen for drug development programs picked up in academia. And what he found in Haoxing Xu’s lab at the University of Michigan pricked his interest enough to launch one of his umbrella biotechs in San Diego.

Xu’s work laid the foundation for Avalon to launch Calporta, which has been working on finding small molecule agonists of TRPML1 (transient receptor potential cation channel, mucolipin subfamily, member 1) for lysosomal storage disorders. And that pathway, they believe, points to new approaches on major market neurodegenerative diseases like Parkinson’s, ALS and Alzheimer’s.

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Spe­cial re­port: Twen­ty ex­tra­or­di­nary women in bio­phar­ma R&D who worked their way to the top

What differentiates a woman leader in biopharma R&D from a man?

Not much, except there are fewer of them in senior posts. Data suggest women are not more risk-averse, family-oriented or less confident than their male counterparts — indeed the differences between the two sexes are negligible. But a glance at the top R&D positions in Big Pharma leaves little doubt that upward migration in the executive ranks of biopharma R&D is tough.

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Carson Block. Muddy Waters via YouTube

Shorts ga­lore: Mud­dy Wa­ters sees slide for Pep­tiDream, tweets con­cerns about Fi­bro­Gen's new da­ta

The short seller Muddy Waters is taking aim at Japan’s most profitable biotech, projecting a slide for a company that has skyrocketed over the last four years. Meanwhile, the firm tweeted out an analysis accusing FibroGen of manipulating data to obscure safety concerns in their latest reveal, although some investors seem satisfied by the biotech’s explanation.

Muddy Waters shorted PeptiDream, a Japanese biotech-for-hire that leveraged its peptide library into partnerships with some of the world’s largest pharmaceutical companies, a 50% profit margin and $6 billion valuation. The firm noted that despite its esteem, PeptiDream has failed to bring a drug to market 13 years after its 2006 launch (although this is not especially rare for biotech).

Pin­cer move­ment: Cal­i­for­nia biotech gets $35M to suf­fo­cate can­cer in co­or­di­nat­ed at­tack

Having served in Afghanistan, the navy veteran leading California-based EpicentRx wants to leave no patient behind with his arsenal of anti-cancer drugs. On Thursday, the company was given a $35 million boost to further its mission.

The injection of funds will be used to shepherd its late-stage CD47 drug, RRx-001, to the FDA for marketing, and its oncolytic virus program into the clinic.

RRx-001, engineered as an agent that makes tumor cells more sensitive to therapy, is in a Phase III trial in combination with chemotherapy for use in third-line and beyond small cell lung cancer (SCLC). The drug has been granted orphan drug designation from FDA for SCLC, neuroendocrine cancer and glioblastoma.