Henrik Andersen, head of biologics development at Bristol-Myers Squibb, knows what it’s like to be at a hot biotech when it’s scooped up by a much larger player.
Andersen was at Seattle-based ZymoGenetics when his current employer stepped in to buy the company. He also experienced first-hand what it was like when Bristol-Myers later opted to shut down the Seattle outpost.
So when Andersen addressed an audience earlier this week in Seattle at an event hosted by The Atlantic and sponsored by Bristol-Myers Squibb, he knew the topic that would be on everyone’s mind. Bristol-Myers is in the process of acquiring Celgene, a megamerger that will have repercussions for Seattle-based Juno Therapeutics, which was bought by Celgene at the start of last year.
News of the $74 billion cash-and-stock buyout of Celgene put the Seattle biotech world on alert and introduced a new wave of uncertainty around the fate of Juno.
Andersen, who received his doctorate from the University of Washington, insisted that Seattle was part of Bristol-Myers’s global footprint.
“The talent is here,” he said. “And I think that Seattle needs to retain the talent to remain innovative.”
At the event, Andersen also offered his thoughts on the city’s strengths, and what the area needs to build and keep large health companies. Here’s more from his talk:
