Medivation Inc (NASDAQ:MDVN) announced that Marion McCourt will join the company as chief operating officer on February 1, 2016. In this newly created position, Ms. McCourt will be responsible for oversight of several functions including commercial operations, medical affairs, manufacturing, quality and corporate efficiency and will report to David Hung, M.D., founder, president and chief executive officer of Medivation.
“We are extremely pleased to have Marion join our leadership team,” said David Hung, M.D., founder, president and chief executive officer ofMedivation. “She has had a tremendous track record of success in transforming and growing businesses to the next level and will play a vital role in managing and scaling our teams, growing our existing commercial business, and helping to prepare us for the next stage as a company with multiple commercial products, a deep pipeline and a global healthcare footprint.”
“I am excited to be joining such a vibrant and successful organization that has made such a meaningful difference in so many people’s lives,” said Ms. McCourt. “I am looking forward to the opportunity to contribute to the continued growth of enzalutamide and to help advance the rapid development of other innovative therapies for patients with serious diseases.”
Ms. McCourt has more than two decades of wide-ranging executive management leadership experience at some of the world’s most innovative biopharmaceutical companies. Most recently, she was a vice president in U.S. commercial operations for Amgen Inc., one of the world’s leading independent biotechnology companies, where she was part of the team that drove the Launch Readiness for multiple assets and led the Organized Customer Team. She also served as the vice president/general manager of the Bone Health & Primary Care Business Unit. Previously, she was the chief operating officer for AstraZeneca US with leadership and P & L accountability for AstraZeneca’s largest market with $13 billion in sales. Her responsibilities included oversight and direct report of all U.S. commercial functions, including medical affairs, business development, finance, human resources, legal, operations, payer-government and sales and marketing. During her 12-year tenure at AstraZeneca, Ms. McCourt was President & CEO of AstraZeneca Canada Inc. and also held the following roles in AstraZeneca Pharmaceuticals LP: Vice President US Business Development, Strategy & Launch; Vice President of Business Units; and Vice President Managed Markets, Government & Policy.
Ms. McCourt has been a member of several life sciences boards, including the Health Leadership Council Executive Board, and launched the Young Health Program in Delaware. She currently serves on the Boards of Girls on the Run International and the MicroClinic 2020. Ms. McCourt holds a B.S. degree in Biology from Lafayette College. (Original Source)
Shares of Medivation closed last Friday at $40.73, down $1.32 or -3.14%. MDVN has a 1-year high of $70.79 and a 1-year low of $37.63. The stock’s 50-day moving average is $43.85 and its 200-day moving average is $46.56.
On the ratings front, Medivation has been the subject of a number of recent research reports. In a report issued on November 10, Maxim Group analyst Jason Kolbert maintained a Buy rating on MDVN, with a price target of $54, which represents a potential upside of 32.6% from where the stock is currently trading. Separately, on November 9, RBC’s Simos Simeonidis reiterated a Hold rating on the stock and has a price target of $40.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Simos Simeonidis have a total average return of -19.3% and -27.1% respectively. Kolbert has a success rate of 25.1% and is ranked #3608 out of 3610 analysts, while Simeonidis has a success rate of 19.6% and is ranked #3568.
Medivation Inc is a biopharmaceutical company engaged in the development of novel small molecule drugs to treat diseases like Alzheimer’s disease and Huntington disease.