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Elan's Martin Named Worst Biotech CEO of '08
The winner of the first-ever Worst Biotech CEO of the Year award goes to Elan Corp. (ELN Quote) Chief Executive Kelly Martin.
Martin takes home the Nance Trophy (more on the award's name below) for a year in which he and his management team promised investors the sky and more when it came to Elan's experimental Alzheimer's disease drug bapineuzumab.
Unfortunately for Martin, the high expectations he set for the drug never materialized. As a result, Elan's share price fell through the floor, the company's investors lost a fortune and Martin's reputation and credibility were shattered. ...
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