Gonzalez to replace Leiden and possibly look for a person named Joe Nemmers to run the ADD and Medical area.
I see the pharma business being much like Ross. A very nice steady cash flow with some key acquisitions here and there. The big business will be in medical devices and Abbott has positioned themselves nicely with some key acquisitions.
I thought so.
I have a friend who was with ABT for over 34 years, he used to say "nothing comes out of Abbott's research but the guys at five o'clock". Despite this caveat he always encouraged me to add ABT to my stock portfolio.
Who takes Leiden's place and which way do you see ABT going?
Leiden was a board member starting in 1999 and became an official employee (i.e., COO) in 2000.
So, he was there before the BASF deal. The BASF deal was Miles' idea. Miles put his name in the hat and bumped the Knoll offer to beat out a number of other pharmas.
The bad R&D pharma pipeline was a cause of his predecessor, the bean counter, Duane, plus Abbott has never been regarded as a innovative drug developer.
The only drugs that came through the Abbott Discovery branch since 1970 were Hytrin, Survanta, Norvir, and Kaletra. All the others were inlicensed or acquired.
I am not playing the smart guy here. I seem to remember and with the s---t I'm taking it is really quite remarkable to remember the keyboard................that the good Dr. was either with Abbott during the Knoll aqu. or was acting as a consultant. Reading his CV at the time made me gald he was with ABT in some context.
PS Are you doing anything but holding ELN?
I'm not going to miss Lyden, but what's up with ex-ADD leaders taking over Abbott. First Miles and now Gonzales. Wasn't Miles responsible for ADD when it went into the Consent Decree. Gonzales didn't do much to get ADD out once he took over. I suppose Nemmers is now going to take over for Gonzales.
Kind of scary IMO that all of the "leaders" that f'ed up ADD are now running the entire company.