Here's why Chris Garabedian remains the best CEO to head Sarepta
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- Don Seiffert
- BioFlash Editor- Boston Business Journal
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Monday's news of the U.S. Food and Drug Administration's change of heart on Sarepta Therapeutics' potential drug for Duchenne muscular dystrophy has amplified calls for CEO Chris Garabedian's resignation.
Notably, Forbes biotech writer Matthew Herper wrote a piece earlier this week arguing that the Cambridge biotech needs someone more experienced with the inner workings of the FDA at its helm. For the past two days, Twitter has been filled with chatter from investors saying Garabedian, who took over the company in 2011, hasn't been transparent enough with the FDA's guidance on how it would consider approval of the drug, eteplirsen, or questioning his competence.
Here's the counterargument as to why Garabedian is the best person to head this company right now, both for the sake of patients and for shareholders.
I met Garabedian exactly one time, in March, and I've talked to him frequently by phone for the past two years ever since the world started paying attention to the company. I don't claim to know him other than as an observer, but what I've seen is someone who's more committed to doing right by the patients and their families than any other biotech CEO with whom I've dealt.
It's that commitment, in fact, that's probably his biggest fault. He knows that this particular form of muscular dystrophy is more time-sensitive than almost any other disease. The damage it does to young boys is irreversible, and its patients and their families measure its progression in months rather than years. For that reason, Garabedian has sought to give more specific details on every aspect of the trial and approval process than a biotech CEO would ever normally provide. In effect, he's been too transparent, because when unforeseeable problems have caused delays, they've caused panic among investors.
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