Jean-jacques Bienaimé on corporate strategy
From BioMarin CEO: There are biotech companies 'that probably should not be on the market today’ · · Yahoo Finance
“We have a growing pipeline and growing revenues; we're going to be profitable this year and have no urgency to make a significant acquisition, though we continue to pursue early-stage product partnerships to create shareholder value.”
On , Jean-jacques Bienaimé, Former CEO at BioMarin, spoke about corporate strategy during BioMarin CEO: There are biotech companies 'that probably should not be on the market today’ on Yahoo Finance.
About Jean-jacques Bienaimé
Jean-Jacques Bienaimé, former CEO and chairman of BioMarin Pharmaceutical, has discussed the company's development of gene therapies and its approach to drug pricing. In 2023, he stated that the company's gene therapy for hemophilia A showed positive trial results, with patients experiencing a 98% reduction in factor infusions and a decrease in bleeding episodes from 4.6 per year to less than one. He described the results as "as good as we could hope" and said the therapy would be a "transformational treatment" for patients. Bienaimé also commented on the broader biotech industry, saying that some venture-capital-funded biotech companies "probably should not be on the market today" and predicted a consolidation. Bienaimé has addressed the company's pricing strategy for its therapies, stating that the goal is to recoup investment while ensuring the healthcare system and patients save money compared to existing treatments. He noted that existing therapies for hemophilia cost around $500,000 per year in the U.S. and said BioMarin planned to use outcomes-based agreements to guarantee success. Reflecting on his tenure, Bienaimé acknowledged that the company became "overconfident" in its ability to get products approved after a history of success, which he described as a "mistake but a learning experience." He has also emphasized the importance of employees, patients, and investors, stating that "employees are the oxygen of any company."
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