Insmed Incorporated (NASDAQ:INSM) announced the appointment of Roger Adsett as chief commercial officer. Mr. Adsett was most recently senior vice president, head of the gastrointestinal and internal medicine business unit at Shire plc.
As chief commercial officer and a member of Insmed’s senior leadership team, Mr. Adsett will be charged with overseeing the development and execution of Insmed’s global commercial strategy for ARIKAYCE™ (liposomal amikacin for inhalation), which is under development to treat patients with non-tuberculous mycobacteria (NTM) lung infections. Mr. Adsett will be responsible for building and leading the commercial organization to ensure effective execution of brand development, product launches, and ongoing commercialization strategies, including sales and marketing.
“Roger is a seasoned executive with a proven track record of success in bringing therapies to market. I am very pleased he will be joining Insmed as we look forward to the commercialization of ARIKAYCE and additional products,” said Will Lewis, president and chief executive officer of Insmed. “Roger has extensive experience of ensuring optimal performance of marketed products and his global marketing expertise will be invaluable to our future as we prepare to become a commercial-stage pharmaceutical company.”
Commenting on his appointment, Mr. Adsett said, “I am thrilled to have the opportunity to join Insmed at such a promising time in the company’s history. I am looking forward to working with the talented team here to execute on the company’s global strategy, and to further its goal of meeting the unmet therapeutic needs of patients with NTM lung disease and other rare disorders.”
Prior to joining Insmed, Mr. Adsett held various leadership roles with Shire from 2005 to 2016. During his time as senior vice president of its gastrointestinal and internal medicine business unit, Mr. Adsett oversaw Shire’s global commercial P&L across six specialty and two rare disease brands. Previously, he also served as Shire’s gastrointestinal business unit leader, responsible for building the global leading mesalamine business. Before joining Shire, Mr. Adsett worked at AstraZeneca for 11 years, most recently serving as the global brand director for Symbicort®, a medicine for the treatment of asthma and chronic obstructive pulmonary disease. Prior to AstraZeneca,Mr. Adsett was a senior analyst at Accenture, from 1991 to 1994. Mr. Adsett holds an M.B.A. from The Wharton School at the University of Pennsylvania and a B.A. in English and Economics from Bucknell University. (Original Source)
Shares of Insmed closed yesterday at $14.57, down $0.19 or -1.29%. INSM has a 1-year high of $21.14 and a 1-year low of $9.02. The stock’s 50-day moving average is $13.26 and its 200-day moving average is $11.99.
On the ratings front, Insmed has been the subject of a number of recent research reports. In a report issued on August 19, Piper Jaffray analyst Joshua Schimmer reiterated a Buy rating on INSM, with a price target of $24, which represents a potential upside of 65% from where the stock is currently trading. Separately, on August 5, Cowen’s Ritu Baral reiterated a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joshua Schimmer and Ritu Baral have a total average return of -0.3% and 19.8% respectively. Schimmer has a success rate of 47% and is ranked #3053 out of 4183 analysts, while Baral has a success rate of 53% and is ranked #50.
Insmed, Inc. operates as a biopharmaceutical company focused on developing and commercializing inhaled therapies for patients battling serious lung diseases that are often life threatening. The company is focused on the development and commercialization of ARIKAYCE or liposomal amikacin for inhalation (LAI), for at least two identified orphan patient populations: patients with nontuberculous mycobacteria lung disease and cystic fibrosis patients with Pseudomonas aeruginosa lung infections.