Sarepta names former Abbvie president as CEO as Ingram retires

July 27 — Sarepta Therapeutics said on Monday it appointed ​former Tessera Therapeutics CEO Michael Severino its chief executive, effective July 28. The ‌longtime AbbVie executive, will succeed Doug Ingram.

Shares of the ⁠company were up nearly ​6% in premarket ⁠trading.

• The appointment of Severino, who will ‌also join the ‌rare disease drugmaker's board, followed a board-led ⁠search after Ingram ⁠announced in February that he planned to step down, Sarepta said.

• Ingram, who has led Sarepta since 2017, will remain in an advisory role through the end ‌of 2026 to support the ​transition.

• During Ingram's tenure, Sarepta secured approvals for multiple Duchenne muscular dystrophy treatments; but its Elevidys, the first approved gene therapy for the disease, was linked to the deaths of two patients last year.

• The ​company also announced about 500 job ‌cuts and discontinued ‌several ⁠gene therapy programs for limb-girdle muscular dystrophy.

• Before Tessera, Severino served as vice-chairman and president at AbbVie, overseeing research and development and ‌corporate strategy. He ​has also held senior ‌roles at Amgen ⁠and ​Merck.

(Reporting by Siddhi Mahatole in Bengaluru; Editing by Joyjeet ​Das)

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