Former Purdue boss named CEO at The Medicines Company

12 December 2018

Mark Timney has been named as the new chief executive of The Medicines Company (Nasdaq: MDCO).

Mr Timney was most recently chief executive of privately-held US drugmaker Purdue Pharma, the company behind the prescription opioid Oxycontin (oxycodone), and was previously with US drug giant Merck & Co (NYSE: MRK).

He takes over from Clive Meanwell, who now becomes chief innovation officer at The Medicines Company, a US biopharma undergoing a period of change. Activist investor Alexander Denner gained control of a reduced board earlier in the year, and the company has been selling off assets to focus on inclisiran, a cholesterol drug in Phase III development.

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