Affymax Says Orwin Will Replace Morris As CEO
From Associated Press (January 6, 2011)
PALO ALTO, Calif. -- Biopharmaceutical company Affymax Inc. said Thursday that CEO Arlene Morris will step down on Feb. 1, and President and Chief Operating Officer John Orwin will be promoted to replace her.
Affymax said Morris will also step down from the board of directors. She will be a consultant with the company until September. She has been CEO of Affymax since 2003. Orwin will replace Morris on the board. He has been the company’s president and COO since April 2010.
Affymax said it is making a change as it prepares to launch Hematide, a drug designed to treat anemia in kidney failure patients who are on dialysis. The company plans to file for Food and Drug Administration marketing approval during the second quarter. It is developing the drug through a partnership with Takeda Pharmaceutical of Japan.
Shares of Affymax rose 33 cents, or 4.9 percent, to close at $6.95.
Posted: January 2011