BioMarin Appoints New R&D and Business Development Leaders

Leadership Changes:
BioMarin has appointed Greg Friberg as Chief R&D Officer and James Sabry as Chief Business Officer, effective September 30 and October 7, 2024, respectively.

Background of New Leaders:

Greg Friberg:
Previously Vice President of Global Medical Affairs at Amgen, with nearly two decades of experience in various leadership positions.

James Sabry:
A veteran dealmaker from Roche, who led over 1,200 transactions during his career and is known for identifying innovation at all stages of development.

Departure of Hank Fuchs:
Hank Fuchs, who led the development of five new medicines during his 15-year tenure at BioMarin, is retiring but will remain in an advisory capacity until March 3, 2025.

Impact of Leadership Changes:
The appointments are part of BioMarin's transformation efforts, following the departure of its long-time CEO Jean-Jacques Bienaimé and the recent approval of its gene therapy, Roctavian, which has seen slower uptake than anticipated.

Company Performance:
BioMarin has brought eight drugs to market but has not been profitable for most of its 30 years in business, recording total revenue of $2.4 billion and income of $158 million in 2023.