Barely a year after he was named head of the Massachusetts Biotechnology Council, former state Senator Joseph Boncore has been ousted and will be replaced with the trade group’s second-highest executive, according to two members of the nonprofit organization’s board of directors.
In response to Globe inquiries, MassBio issued a brief statement saying that Boncore “is resigning as CEO to open a consulting practice and will remain an advisor to MassBio on state and federal issues” under its new leader.
The abrupt leadership changes comes at a sensitive time for MassBio, which lobbies for the state’s biotechnolology industry, a pillar of the Massachusetts economy. In addition to an ongoing slump in biotech stocks, President Biden recently signed a law enabling the federal government to negotiate some drug prices for Medicare recipients, a change that some local biotechs say may deter investment in new medicines.
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