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Sarepta Appoints Ex-Allergan Executive as CEO and President

Sarepta Therapeutics, Inc. SRPT announced the appointment of Douglas S. Ingram as the new chief executive officer (CEO). He will also serve as the company’s president and will also be a member of the board of directors.

Ingram has a cumulative experience of more than 20 years as an executive leader in the field of life sciences. No wonder, this played an instrumental role in his selection for the job. Most recently, Ingram served as president and chief executive officer of Chase Pharmaceuticals, which was acquired by Allergan, plc AGN in late 2016.

Shares of Sarepta were up 2.5% on Wednesday following the announcement of the news. This year, Sarepta’s shares have surged 23.4% so far while the Zacks classified Biomed-Genetics industry has gained 8.8%.

Prior to the acquisition of Allergan by Actavis, plc in 2015, Ingram served the company in various capacities including its president.

Sarepta’s first marketed drug Exondys 51 was launched last year in the U.S. Also, a marketing application is under review in the EU. Ingram’s near-term priorities include successful commercialization of Exondys 51.

Ingram will also focus on the development of other candidates in the pipeline and various research collaborations to maintain Sarepta’s leadership position in the treatment of Duchenne muscular dystrophy (DMD). The company currently has collaboration with Catabasis Pharmaceuticals, Inc. CATB to explore a combination-drug treatment approach for DMD.

Ingram will replace Sarepta’s present CEO, Edward M. Kaye who, in April this year, informed the company of his intention to resign on Sep 20, upon the completion of his term.

Zacks Rank & Key Pick

Sarepta Therapeutics carries a Zacks Rank #2 (Buy). Another stock to consider in the health care sector is Regeneron Pharmaceuticals, Inc. REGN, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Regeneron’s earnings per share estimates increased from $10.16 to $10.52 for 2017 and from $10.90 to $12.10, over the last 60 days. The company has delivered positive earnings surprises in two of the four trailing quarters with an average beat of 0.45%. Regeneron’s shares have surged 39.8% so far this year.

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