Early Briefing: MiddleBrook's New Leader
*As a senior executive at Adams Respiratory Therapeutics, John S. Thievon tackled the challenge of launching a pricey decongestant in a marketplace filled with cheap generics. Ultimately that drug, Mucinex, trampled its competition.
Thievon now faces a similarly daunting task as the chief executive of MiddleBrook Pharmaceuticals, a struggling Germantown biotech that's about to launch its once-daily amoxicillin treatment for strep throat. Yesterday MiddleBrook shareholders voted to accept an outside investment of $100 million from Equity Group Investments, a deal that came with a required change in management. Founder Edward M. Rudnic stepped down as chief executive in favor of Thievon -- an event that took all of 10 minutes, as three of the largest stockholders voted in favor of the arrangement.
*Montgomery County Executive Isiah Leggett (D) said he would require thousands of county employees to take unpaid leave and shut down all but essential government services for two days as part of a package of budget cuts. Leggett said additional furlough days and midyear belt-tightening might be needed as the county confronts a projected shortfall of about $250million for fiscal 2010.
*Michael Landrum is bringing his latest culinary venture to the District, specifically to business-starved Ward 7, which has had only one sit-down restaurant for nearly a decade. Landrum plans to open Ray's the Heat by April in East River Park Shopping Center, a strip mall at Minnesota Avenue and Benning Road NE, said Chris LoPiano, director of development for City Interests, a two-year-old development company with a focus on projects east of the Anacostia River.
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