ZymoGenetics has recruited a senior Bayer sales expert to serve as company president and director of a new division, in an effort to beef up sluggish sales of its compound to treat surgical bleeding.
In an effort to beef up sluggish sales of its compound to treat surgical bleeding, ZymoGenetics has recruited a senior Bayer sales expert to serve as president of the company and as director of a new division focused on the surgical business.
Stephen Zaruby, previously Bayer HealthCare Pharmaceuticals’ senior vice president overseeing hospital sales, will begin his new role on Jan. 2.
The move underscores the ongoing reorganization of the Seattle biotechnology company’s top management team. The company’s current president, Doug Williams, will replace Bruce Carter as Chief Executive in January. Carter will remain chairman of the board.
Last January, ZymoGenetics launched its first commercial product, a compound to stem bleeding during surgery, amid great expectations. But sales for the product, dubbed Recothrom, have been lower than expected, and its stock has dropped from the teens to just above $3.
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“Forming this business unit and hiring Stephen are important steps in focusing the company on those assets where we can generate the greatest returns for our shareholders,” remarked Douglas Williams, incoming CEO of ZymoGenetics
Williams’ statement said the company plans to announce other moves to increase shareholder value during the first quarter of next year.
Ángel González: 206-515-5644 or email@example.com