X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
To cut costs, small pharmaceutical companies have been outsourcing science and insourcing law. With billing rates skyrocketing and Sarbanes-Oxley creating more legal work, three growing pharmaceutical start-ups hired GCs in October. While he was at Cooley Godward, Marc Graboyes, 35, helped Allos Therapeutics, Inc., through its 2000 public offering and afterward remained its primary outside counsel. When Cooley’s fees rose, Allos’s management decided that there were both financial and strategic benefits to bringing his job in-house. “There’s the belief that you will utilize your lawyer more often and more efficiently if you are not being billed for their time,” says Graboyes, who saw the job as an opportunity to broaden his legal experience. The corporate finance and securities lawyer says he is excited to take on licensing, employment, and IP matters — as well as build a law department. And he isn’t making any promises to his old employer. Right now, he says, Allos’s outside counsel is Cooley, but they might also be looking around at other firms. Barry Pea, 46, is also pioneering a new position. He started work at Inspire Pharmaceuticals, Inc., as executive vice president of corporate development and GC. With a number of products and copromotions with Allergan, Inc., in the works, Inspire was overdue for an in-house attorney, he says. And with 15 years of experience in pharmaceutical legal departments, Pea was the right lawyer for the job. He started in 1989 at Burroughs Welcome Co. and stayed on when the company became GlaxoSmithKline plc. In 1996 he moved to Immunex Corporation and helped them through a $18.8 billion merger with Amgen Inc. With INS365 (a product for dry eyes) expected to get FDA approval next year, Pea saw in Inspire what he enjoyed at Immunex. Both companies, he says, started small but had the potential for explosive growth. Pea hopes to help guide Inspire to success, working with the executive team to select the right licensing opportunities and to develop new products. “This company is small but nimble,” he says. “It’s fast and feisty but highly ethical.” Millennium Pharmaceuticals, Inc., is much bigger than Inspire, but it’s also just added a brand-new GC. In October 2004, 16 months after the company announced plans to lay off 600 employees and close two plants by the end of 2004, Laurie Keating started as senior vice president, GC, and secretary. Keating last worked at Hydra Biosciences, Inc., a biopharmaceutical company she cofounded in 2001.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.