Investors in Dendreon (Nasdaq: DNDN) are used to bad news, but a change in the CEO suite has given hope new leadership can turn around the struggling prostate cancer vaccine maker.
Under his stewardship CEO John Johnson admirably cut costs, but reducing losses isn't the same as turning a profit. Competition has been an insurmountable problem for Dendreon, as Johnson & Johnson's (NYSE: JNJ) Zytiga continues to show strong 49% year over year growth totaling $512 million in quarterly sales, while Dendreon's Provenge has been stagnating near $70 million per quarter.
In this episode of Market Check-Up, the Motley Fool's health care focused investing show, analysts David Williamson and Michael Douglass, discuss the tenure of CEO John Johnson, why the stock's struggles aren't necesarily his fault, and give predictions of the next CEO's tenure in a Foolish game fashion.
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David Williamson owns shares of Johnson & Johnson. Michael Douglass has no position in any stocks mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool owns shares of Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.