Acambis CEO steps down, despite success; results on track in first half

The UK's largest vaccine manufacturer, Acambis, has reported first-half 2003 results in line with market expectations, but surprised some quarters with the announcement that its chief executive, John Brown, is to leave the company.

Mr Brown, who during his eight years at Acambis has overseen the transformation of the firm from a small, loss-making concern into a major player in the global vaccines market, cited family reasons for his decision to cede control.

The timing of the move sees Mr Brown go out at the top of his trade, having brought through to fruition Acambis' lucrative ACAM smallpox vaccine contracts with the US government following the announcement earlier this year that production of all 155 million doses of the initial ACAM2000 agreement had now been complete (Marketletters passim).