Biotech Grows Two New Heads
Big drug and health-care companies once treated biotechnology as all sizzle and no steak. But as biotech has proven its mettle, the tide has turned. Ex-Eli Lilly CEO Vaughn Bryson will become vice-chairman of Vector Securities, a Chicago investment bank that has helped fund and grow dozens of bio-outfits. Bryson passed up top jobs at other big drug companies, he says, because what's happening in entrepreneurial outfits "is much more exciting." And James Tobin, who in December resigned as president of Baxter International, is joining Biogen as president.