Showing posts with label WSJ. Show all posts
Showing posts with label WSJ. Show all posts

June 21, 2009

Steve Jobs Had Liver Transplant

Steve Jobs has had a liver transplant during his medical leave but is expected to return to work as expected later this month after a medical leave he announced to a shocked Apple community in January, the Wall Street Journal reports.

The Journal cited no source in particular for its story, and got no direct comment from Apple itself. It quoted a “a person familiar with the thinking at Apple” that Jobs would have a diminished schedule at first when he returns to work and also reported that “At least some Apple directors were aware of the CEO’s surgery” as part of an agreement Jobs made with the board before he went on leave.

The Journal said the surgery took place two months ago in Tennessee, where there are three facilities which can perform such a procedure, there is no residency requirement and the wait is among the shortest in the country. According to the United Network for Organ Sharing, which manages the transplant network in the U.S., the five-year survival rate for liver-transplants patients is generally between about 73% and 76%, it said.

The subject of Jobs health has been a front burner item since he announced, on Aug. 1, 2004, that he had undergone surgery for pancreatic surgery. Over the course of last year it was apparent that he was losing weight, but neither he nor the company would directly address this painfully evident fact.

On January 5, Jobs told the “Apple Community” in an open letter that the cause of his weight loss was not a recurrence of his pancreatic cancer but a treatable hormone imbalance. In that letter Jobs said he had already begun a “relatively simple and straightforward” treatment for the condition, that he would remain on as Apple CEO during his recovery, and that he expected to be noticeably improved in a matter of months.

Nine days later Jobs dropped the other shoe.

“… during the past week I have learned that my health-related issues are more complex than I originally thought,” he wrote in an e-mail to Apple employees. “In order to take myself out of the limelight and focus on my health, and to allow everyone at Apple to focus on delivering extraordinary products, I have decided to take a medical leave of absence until the end of June.”

Since then COO Tim Cook has been running day-to-day operations, though the Journal has reported that Jobs was maintaining a “firm grip” on the company and involving himself in projects of his choosing, and that he had also shown up at work from time to time.

Apple shares have improved in Jobs’ absence. AAPL closed at $85.33 on Jan. 15, the first day of trading after he announced his medical leave, and closed at $139.48 on Friday, the day the new iPhone 3 GS went on sale — about a 63% gain. During the same period the NASDAQ has declined by 4%. Without Jobs fully at the the company held a successful if lackluster WWDC and launched the third generation of iPhone.

Source: http://www.wired.com/epicenter/2009/06/jobs-liver-transplant/

Tags: Steve Jobs, WSJ, Apple, Liver transplants, illness, united network for organ sharing, tim cook, nasdaq, wired, iPhone, global economic pulse,

Posted via email from Global Business News

April 24, 2008

Scientist Gives VC an Edge

In this recent Wall Street Journal article, emanating from their weekly “Theory and Practice” installment on people and ideas influencing managers, we get a glimpse of the potential partnership model of the future.


“Together, Messrs. McGuire and Langer have launched 13 companies over the past 15 years and become a model for other venture capitalists scrambling to commercialize new drug and medical-device research. Dr. Langer, 59 years old, holds more than 600 patents and supplies the science; Mr. McGuire, 52, fine-tunes the business. Some of Mr. McGuire's work with Mr. Langer was described in a 2005 Harvard Business School case study called, "The Langer Lab: Commercializing Science.".”

“One early big hit came in 1997, when they co-founded, with another Langer protege, Advanced Inhalation Research Inc. The company, which devised a novel way to deliver large-molecule drugs via the lungs, was sold for $113 million in stock 18 months later; Polaris made nearly 10 times its money, and Dr. Langer profited as a significant shareholder of AIR. Since then, the two have teamed up on other drug-related start-ups like Pulmatrix Inc., which is developing inhalable aerosols for respiratory disease, and Tempo Pharmaceuticals Inc., which uses nanotechnology to create new drugs. Of the 13 investments, two companies went public and three were acquired.”


These types of arrangements seem to be a match made in bio-tech heaven, and from a business perspective they definitely make a lot of pragmatic sense, in terms of supplying “deal flow” and a reduced risk-premium for the investors involved.

Perhaps we should not be all that surprised that such partnerships are successful, as by its nature this particular partnership is multi-disciplinary, and spans the boundaries of multiple skill-sets.

Is it possible that we may see the increasing popularity of these types of partnerships in other areas of business?

http://online.wsj.com/article/SB120813571182711781.html?mod=djemSB