A Former Abbott Executive Hired as Human Genome Chief [NYT]
By ANDREW POLLACK
Published: November 22, 2004
Human Genome Sciences has selected H. Thomas Watkins, who spent nearly 20 years with Abbott Laboratories, as its new chief executive, to guide the company as it changes from a discoverer of genes to a developer of pharmaceuticals.
Mr. Watkins, whose appointment is expected to be announced today, will succeed William A. Haseltine, the bold-talking scientist and founder of the company, who left last month after first announcing plans to step down in March.
Under Dr. Haseltine, Human Genome got off to an early start in the race to discover genes involved in disease. But the company, based in Rockville, Md., had setbacks developing drugs based on its discoveries. So Dr. Haseltine and the company's board decided the company needed a leader with commercial pharmaceutical experience.
"I will not come close to filling his shoes technically," Mr. Watkins said of Dr. Haseltine. "I am in many ways the opposite of Bill. I'm a professional manager."
Mr. Watkins, 51, said in an interview that he did not yet see the need for major changes, just more focus and efficiency. But he did say he would consider trying to get a product on the market quickly by licensing a drug or buying a company. Human Genome's own drugs are still in early or midstage clinical trials.
Mr. Watkins most recent position with Abbott was the president of TAP Pharmaceutical Products, a joint venture of Abbott and Takeda Pharmaceutical of Japan.
During his tenure from September 1998 until this August, TAP's sales doubled to $4 billion. But in 2001 the company also pleaded guilty to a criminal charge of fraud relating to the marketing of its prostate cancer drug and paid a penalty of $875 million, at the time the largest ever for health care fraud.
Argeris N. Karabelas, chairman of Human Genome, said the board satisfied itself that any fraudulent activities occurred before Mr. Watkins got to TAP. "Certainly they would not have kept Tom in the role if he had responsibility," said Dr. Karabelas, a venture capitalist in Princeton, N.J.
nytimes.com |
