Biogen Names Michael McDonnell as Executive Vice President and
Chief Financial Officer
Biogen Inc. (Nasdaq: BIIB) announced today the appointment of
Michael (Mike) McDonnell as Executive Vice President and Chief
Financial Officer, effective August 15, 2020. McDonnell joins
Biogen from IQVIA™ (NYSE: IQV), where he is Executive Vice
President and Chief Financial Officer. At Biogen, McDonnell will
lead the global finance function and operations, the Company’s
shared services center, information technology and investor
relations groups. He will report directly to Biogen’s Chief
Executive Officer Michel Vounatsos, and will be based in Cambridge,
Massachusetts.
McDonnell brings an extensive background in strategic finance
and operations, and experience in leading global teams from diverse
industries. During his tenure at IQVIA, the company has become an
industry leader in using data and technology to improve patient
outcomes.
McDonnell succeeds Jeffrey Capello, who has served as Biogen’s
Executive Vice President and Chief Financial Officer since December
2017. Capello will step down from his current role as Chief
Financial Officer effective with McDonnell’s appointment on August
15, 2020, and will remain with the Company until September 15,
2020, to assist with the transition.
“I am thrilled to welcome Mike to Biogen at this exciting time
when we have so many potential breakthrough therapies in our
pipeline. Mike's background and track record of accomplishments –
including his extensive expertise in value-creating, strategic
financial considerations – make him particularly well suited for
Biogen at this moment in our history,” said Michel Vounatsos, Chief
Executive Officer. “I would like to thank Jeff for his many
contributions to Biogen and we are pleased that Jeff will be
staying on for a brief period to ensure a seamless transition. We
wish him well.”
McDonnell said, “As a business partner, I have long admired the
strength of Biogen’s pipeline and its commitment to combatting
neurological diseases. I am excited by the multiple potential
growth opportunities and the prospect of building on Biogen’s
established position as a leader in neuroscience. I look forward to
joining Biogen and working with my future colleagues to drive
sustained performance and growth.”
Biogen will report results for the second quarter of 2020 on
July 22, 2020.
About Michael (Mike) McDonnell
Mike McDonnell, age 56, has served as Executive Vice President
and Chief Financial Officer of IQVIA Holdings Inc., a leading
global provider of advanced analytics, technology solutions and
contract research services to the life sciences industry, from
December 2015 through July 2020. Prior to that, McDonnell served as
the Executive Vice President and Chief Financial Officer of
Intelsat, a leading global provider of satellite services, from
November 2008 to December 2015, as Executive Vice President and
Chief Financial Officer of MCG Capital Corporation, a publicly-held
commercial finance company, from September 2004 until October 2008
and as MCG Capital Corporation’s Chief Operating Officer from
August 2006 until October 2008. Before joining MCG Capital
Corporation, McDonnell served as Executive Vice President and Chief
Financial Officer for EchoStar Communications Corporation (f/k/a
DISH Network Corporation), a direct-to-home satellite television
operator, from July 2004 until August 2004 and as its Senior Vice
President and Chief Financial Officer from August 2000 to July
2004. McDonnell spent 14 years at PricewaterhouseCoopers LLP,
including 4 years as a partner. He has a Bachelor of Science degree
in accounting from Georgetown University and is a certified public
accountant.
About Biogen
At Biogen, our mission is clear: we are pioneers in
neuroscience. Biogen discovers, develops and delivers worldwide
innovative therapies for people living with serious neurological
and neurodegenerative diseases as well as related therapeutic
adjacencies. One of the world’s first global biotechnology
companies, Biogen was founded in 1978 by Charles Weissmann, Heinz
Schaller, Kenneth Murray and Nobel Prize winners Walter Gilbert and
Phillip Sharp. Today Biogen has the leading portfolio of medicines
to treat multiple sclerosis, has introduced the first approved
treatment for spinal muscular atrophy, commercializes biosimilars
of advanced biologics and is focused on advancing research programs
in multiple sclerosis and neuroimmunology, Alzheimer’s disease and
dementia, neuromuscular disorders, movement disorders,
ophthalmology, immunology, neurocognitive disorders, acute
neurology and pain.
We routinely post information that may be important to investors
on our website at www.biogen.com. Follow us on social media
– Twitter, LinkedIn, Facebook, YouTube.
Biogen Safe Harbor
This news release contains forward-looking statements, made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including statements relating to our
business activities; our strategy and plans; the potential of our
commercial business and pipeline programs; risks and uncertainties
associated with drug development and commercialization; our future
financial and operating results; and the expected benefits from
McDonnell’s appointment as Executive Vice President and Chief
Financial Officer. These forward-looking statements may be
accompanied by words such as “aim,” “anticipate,” “believe,”
“could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,”
“plan,” “potential,” “possible,” “will,” “would” and other words
and terms of similar meaning. Drug development and
commercialization involve a high degree of risk, and only a small
number of research and development programs result in
commercialization of a product. Results in early stage clinical
trials may not be indicative of full results or results from later
stage or larger scale clinical trials and do not ensure regulatory
approval. You should not place undue reliance on these
statements.
These statements involve risks and uncertainties that could
cause actual results to differ materially from those reflected in
such statements, including, without limitation: risks relating to
management and key personnel changes; our dependence on sales from
our products; failure to protect and enforce our data, intellectual
property and other proprietary rights and the risks and
uncertainties relating to intellectual property claims and
challenges; the direct and indirect impacts of the ongoing COVID-19
pandemic on our business, results of operations and financial
condition; uncertainty of long-term success in developing,
licensing or acquiring other product candidates or additional
indications for existing products; failure to compete effectively
due to significant product competition in the markets for our
products; failure to successfully execute or realize the
anticipated benefits of our strategic and growth initiatives; the
risk that positive results in a clinical trial may not be
replicated in subsequent or confirmatory trials or success in early
stage clinical trials may not be predictive of results in later
stage or large scale clinical trials or trials in other potential
indications; risks associated with clinical trials, including our
ability to adequately manage clinical activities, unexpected
concerns that may arise from additional data or analysis obtained
during clinical trials, regulatory authorities may require
additional information or further studies or may fail to approve or
may delay approval of our drug candidates; and the occurrence of
adverse safety events, restrictions on use with our products or
product liability claims. The foregoing sets forth many, but not
all, of the factors that could cause actual results to differ from
our expectations in any forward-looking statement. Investors should
consider this cautionary statement, as well as the risk factors
identified in our most recent annual or quarterly report and in
other reports we have filed with the U.S. Securities and Exchange
Commission. These statements are based on our current beliefs and
expectations and speak only as of the date of this press release.
We do not undertake any obligation to publicly update any
forward-looking statements, whether as a result of new information,
future developments or otherwise.
MEDIA CONTACT:Biogen Inc.David
Caouette+ 617 679 4945public.affairs@biogen.com |
INVESTOR CONTACT:Biogen Inc.Joe
Mara+781 464 2442IR@biogen.com |
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