Human Genome Sciences names David Southwell CFO

Tue, 03/09/2010 - 8:18am
The Associated Press

Human Genome Sciences Inc. said Tuesday it named David P. Southwell executive vice president and chief financial officer to replace Timothy C. Barabe.

On March 1, the company announced Barabe's resignation in a Securities and Exchange Commission filing. Human Genome Sciences said he resigned to pursue another opportunity. It also announced Barry A. Labinger, the company's chief commercial officer, as an interim chief financial officer.

Southwell, a member of Human Genome's board of directors since July 2008, will accept the chief financial officer position March 22. He is resigning from his position on the board. He's previously worked as chief financial officer at Sepracor Inc.

Human Genome Sciences is getting ready to ask the Food and Drug Administration for approval of the experimental lupus drug Benlysta. It is aimed at suppressing the immune system's response to lupus, an inflammatory disease prompting the body to attack its own tissue and organs. If approved, it could be the first new treatment for lupus on the market in decades.

GlaxoSmithKline is the company's partner on Benlysta, and the companies plan to ask for approval in the second quarter.

Shares of Human Genome Sciences Inc. rose $1.29, or 4.2 percent, to $32.38 in midday trading. The stock earlier reached a 52-week high of $32.43.


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