Genentech, a member of the Roche Group, announced Ashley Magargee, longtime senior member of the company, as its newest leader.
Let’s start with Magargee.
A near-20-year veteran at Genentech, Magargee joined the company in 2004 and has since held several senior management positions at both Roche and Genentch in the fields of:
- Lifecycle management
- Digital customer experience
- Market access
She most recently served as the head of U.S. commercial portfolio, and—prior to that—was general manager of the company’s presence in Singapore.
And what happened to the former CEO?
Alexander Hardy stepped down on November 1, 2023, after serving as head since March 2019 and following 18 years at the company.
As of December 1, 2023, Hardy joined BioMarin Pharmaceutical, Inc. as CEO. The biotechnology company has a core focus in business and research of enzyme replacement therapies.
Magargee has been serving as ad interim CEO since before his departure (during Hardy’s sabbatical).
Gotcha. So when is this effective?
January 1, 2024.
Let’s talk Genentech … any big news from them this year?
Indeed there was … most recently (October 2023), the company received FDA approval for Vabysmo (faricimab-svoa) to treat macular edema following retinal vein occlusion (RVO).
To note, this marks the third indication for the drug.
Give me a refresh on it.
Vabysmo [va-bis-mo] is a vascular endothelial growth factor (VEGF) and angiopoietin-2 (Ang-2) inhibitor indicated for specific retinal diseases (more on that in a moment) and administered via intravitreal injection.
The drug was previously approved in February 2022 as the first bispecific antibody for ophthalmic use in the following retinal diseases:
- Wet age-related macular degeneration
- Diabetic macular edema
See here for our coverage.
Also of interest: Vabysmo is currently approved in 80+ countries.