Connetics and Relaxin

By Robert Chess, Mark Leslie, Joshua Spitzer
2006 | Case No. E200

The case follows the Connetics, a biotechnology and pharmaceutical company, from its founding in 1993 through the final clinical trials of its flagship drug compound in 2000. Through that time, the company had experienced the failure of another compound, while it had successfully in-licensed other pharmaceutical products that would immediately generate income. Ultimately, the pivotal trial in 2000 was a failure, and, as the case concludes, CEO Tom Wiggans, must manage the company through this failure (the stock went from about $25 to $5 after the results were revealed publicly).

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