Pharmaxis gets new CEO in shakeup

Facing down a recent FDA advisory committee vote against Bronchitol, Australia's Pharmaxis says that it has found a new CEO and is reviewing its business strategy. Dr. Alan Robertson has left the company and is being replaced by COO Gary Phillips, according to the Sydney Morning Herald. "Pharmaxis is facing likely delays in the commercialization of Bronchitol in the United States," Chairman Malcolm McComas said. The penny stock declined slightly on the news. Story

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