The Medicines Co. names new CEO

Parsippany-based The Medicines Co. announced Tuesday that its has appointed Mark Timney its new CEO and member of the board of directors, effective immediately.

Timney will succeed Clive Meanwell, who has been named chief innovation officer.

“We are pleased to welcome Mark Timney as our new CEO. With his hiring, the board continues to focus on execution, accountability and maximizing shareholder value. His leadership will serve the company well as it embarks on its next strategic phase,” Alexander Denner, chairman of the board of directors, said.

Timney, who has more than 25 years of biopharmaceutical industry experience, previously served as president US, president Japan and president of global primary care at Merck & Co. After Merck, he was CEO of Purdue Pharmaceuticals. Before Merck, he spent eight years working at a variety of pharmaceutical firms, including Zeneca Group, ICI Pharmaceuticals and Roussel Labs.

“I am thrilled to be joining The Medicines Co. at such an exciting time. The opportunity to transform patient care and deliver shareholder value is significant,” Timney said.

Meanwell has been a director since 1996 and CEO for most of those years. In his new role, he will be responsible for supporting the company’s efforts to complete the development of inclisiran, a cardiovascular care therapy.