STAT: The worst-performing CEOs of 2023
https://www.statnews.com/2023/12/19/albert-bourla-pfizer-worst-biopharma-ceos-2023/
Dennis Lanfear, Coherus Biosciences
Coherus is a modest but generally successful maker of biosimilar drugs. Unfortunately, Lanfear has also committed the company to a quixotic quest to develop proprietary cancer immunotherapy treatments, believing that it can compete against pharma giants like Merck, AstraZeneca, and Roche.
In October, Coherus secured FDA approval for the ninth anti-PD-1 checkpoint inhibitor to reach the U.S. market. No one cares. Well, check that. Battered Coherus shareholders care because Lanfear has saddled the beleaguered company with debt while burning cash in a furnace. Shares are down 75% this year.
https://www.statnews.com/2023/12/19/albert-bourla-pfizer-worst-biopharma-ceos-2023/
Dennis Lanfear, Coherus Biosciences
Coherus is a modest but generally successful maker of biosimilar drugs. Unfortunately, Lanfear has also committed the company to a quixotic quest to develop proprietary cancer immunotherapy treatments, believing that it can compete against pharma giants like Merck, AstraZeneca, and Roche.
In October, Coherus secured FDA approval for the ninth anti-PD-1 checkpoint inhibitor to reach the U.S. market. No one cares. Well, check that. Battered Coherus shareholders care because Lanfear has saddled the beleaguered company with debt while burning cash in a furnace. Shares are down 75% this year.