A 2017 Gallup poll found that just 33 percent of the country had a favorable view of the drug industry, the second-lowest of any sector. Anger over high drug prices has risen and President Trump has vilified the industry. Hugin’s professional career could also prove to be a liability - he is the sole pharmaceutical executive running for statewide office in 2018. Hugin’s campaign reminds television viewers in New Jersey about on a regular basis - has dampened his popularity among voters.īut Mr.
HUGIN SENATE TRIAL
Menendez’s federal corruption trial last year - a trial that Mr. In deeply blue New Jersey, few expected a real contest for Mr. Hugin, a Republican mounting a surprisingly strong challenge to Senator Robert Menendez in New Jersey, has made his career at Celgene a cornerstone of his campaign, with television advertisements boasting that he “chose a life of service” in the Marines and “leading a health care company that develops cancer medicine.”
By the time he stepped down as executive chairman in February to run for United States Senate, Celgene had become a pharmaceutical powerhouse with a market value of nearly $80 billion.Īnd that onetime leprosy drug? It had been transformed into Revlimid, a best-selling cancer drug that, with annual sales of $8.2 billion, made up nearly two-thirds of Celgene’s net sales in 2017. When Bob Hugin joined Celgene in 1999 as its chief financial officer, the company was a struggling biotech that sold just one product - a leprosy drug - and faced a shaky future.
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