drug company takes in cash, dumps ceo


Middlebrook Pharmaceuticals released the news that their President and CEO will be stepping down under terms of an investment group’s $100 Million investment in the company.

As part of the agreement, a new marketing-focused senior management team will be appointed. Proceeds from the investment will fund the launch of its once-daily Moxatag amoxicillin antibiotic, and help continue pipeline development.

Edward Rudnic, CEO (photo: The Washington Post)

With only 30 employees, the company is a shell of its former self.

epilogue:

If you are looking for Rudnic a week or two later, chances are you’ll find him golfing somewhere in California, from the helm of the biotech he founded nine years ago. But like Arnold Schwarzenegger, he vows to be back.

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