An astute commenter just inquired after Celgene's interlocks with former Carrie Cox-connected entities. Here is what we've found, thus far: the single common thread that weaves all these companies together (and likely landed Ms. Cox this Celgene
gravy-train board seat) is none other than. . . J.P. Morgan.
Perhaps most important J.P. Morgan connection is the oldest precursor of common interlocked relationships: J.P. Morgan was the financial advisor to Pharmacia, in the 2000 deal that bought out Monsanto. Ultimately Pharmacia was sold -- lock, stock and barrel -- to Pfizer. Carrie Cox was with Fred Hassan on both of those deals -- and reaped huge returns, just like Hassan.
More recently, Old Schering-Plough did a lot of banking (advisory) business through J.P. Morgan, and Celgene's current President and COO is a former Managing Director of J.P. Morgan -- and, surprising no one -- J.P. Morgan was Old Merck's financial advisor in the most recent Schering-Plough wipe-out/bust-up:
. . . .Robert J. Hugin has served as our Chief Operating Officer and President since May 1, 2006. He served as our Senior Vice President and Chief Financial Officer from June 1999 until May 1, 2006. Mr. Hugin has served as one of our directors since December 2001. Previously, Mr. Hugin had been a Managing Director at J.P. Morgan & Co. Inc., which he joined in 1985. Mr. Hugin received an A.B. degree from Princeton University and an M.B.A. from the University of Virginia. Mr. Hugin is also a director of The Medicines Company, Atlantic Health System, Inc., a non-profit health care system, and Family Promise, a national non-profit network assisting homeless families. . . .
In addition, the Celgene CEO now serves on the board of Amicus -- where Ex-Old Merck Vaccines President Margie McGlynn just landed (on the Amicus board of directors):
. . . .Sol J. Barer, Ph.D. has served as our Chief Executive Officer since May 1, 2006. Immediately prior, Dr. Barer served as our President, an office he held since October 1993, and as our Chief Operating Officer, an office he held since March 1994. Dr. Barer has served as the Chairman of our Board of Directors since January 2, 2007 and, since March 1994, has served as one of our directors. He is also the Chairman of the Executive Committee of our Board of Directors. Dr. Barer was Senior Vice President—Science and Technology and Vice President/General Manager—Chiral Products from October 1990 to October 1993 and our Vice President—Technology from September 1987 to October 1990. Dr. Barer received a Ph.D. in organic chemistry from Rutgers University and is on the Rutgers Board of Trustees, Rutgers Graduate School Dean’s Advisory Council (Founding Chair) and the Rutgers Bioscience Commercialization Advisory Board. Dr. Barer is also a director of Amicus Therapeutics and serves on the Board of Trustees of BioNJ and the Board of the Brooklyn College Foundation. Dr. Barer previously served as Commissioner of the New Jersey Commission on Science and Technology. . . .
Hmmmm. . . cozy!