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Without ever leaving New Jersey, Philip Yachmetz just expanded his global reach. After spending four years as the first GC at Progenics Pharmaceuticals, Inc., Yachmetz has moved to Savient Pharmaceuticals, Inc. In the new job, which he started in May, Yachmetz is responsible for legal functions worldwide. The new post gives the 47-year-old many chances to travel. That’s a big plus for Yachmetz, who spent eight years doing international transactional work as senior counsel at Hoffmann-La Roche Inc. before joining Progenics. Yachmetz replaced Robert Shaw, who left the company in January. Savient experienced further executive-level changes in May, when CEO Sim Fass retired. In addition to departures from its senior ranks, the company is also facing a growing threat posed by generic competitors to its leading product, the drug Oxandrin. According to the press release announcing Yachmetz’s appointment, the lawyer was hired not only for his knowledge of the pharmaceutical industry but also for his business savvy. Before starting at Progenics, he was senior vice president-business development, general counsel, and secretary at CytoTherapeutics, Inc. He also founded and served as managing director of Millennium Venture Management, a consulting firm that advised the pharmaceutical, health care, and high-tech industries. Yachmetz revels in his dual interests. “I am always happiest when I am wearing a combination of a business and a legal hat,” he says. Progenics is conducting an external search for a new GC. At press time they had not found a replacement.

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