Dendreon CEO resigns

Share this article:

Dendreon CEO John Johnson is calling it quits. The Seattle manufacturer of prostate cancer drug Provenge announced Monday that Johnson was leaving for personal reasons. Douglas Watson has replaced Johnson as chairman of the board. Johnson will remain president and CEO through August 15.

The Street's Adam Feuerstein noted Monday that Johnson is leaving the beleaguered company as it is subsumed by debt, and says the company will make its June $28 million payment, but “has no means to pay the $560 million in debt due in 2016.”

Johnson was named CEO in February 2013.

Share this article:
close

Next Article in Business Briefs

Email Newsletters

More in Business Briefs

Imbruvica lassoes CLL indication

The FDA slapped a Breakthrough Therapy label on the CLL indication pursuit in February.

FDA asks social media "how'm I doin?"

The FDA's Center for Drug Evaluation and Research's Office of Communications wants a system that will help assess its messaging reach across the interwebs and its many forums.

Reckitt Benckiser wants out of pharma

The company plans to spin off its pharmaceutical unit.