The Washington-based company’s new president and chief executive joins from Juno Therapeutics Inc, where he worked as an executive vice-president and chief commercial officer.
While at Juno, Azelby helped to oversee the company’s US$9bn acquisition by Celgene Corp (NASDAQ:CELG). He replaces Paul Cleveland who has been in the hot seat as Alder’s interim president and chief executive officer.
Azelby will serve on Alder’s board and Cleveland will also keep his seat as a director.
He's enthusiastic about the idea of bringing eptinezumab, Alder’s lead migraine drug, to market. “Eptinezumab has the potential to make a significant difference in the lives of people dealing with the debilitating effects of migraine,” Azelby said.
In early afternoon trade, Alder shares slumped 4.4% to US$17.35.