J&J pharma chief Jennifer Taubert to retire; Krystal Biotech shares plunge after gene therapy revenue shortfall

Johnson & Johnson announced that Jennifer Taubert will step down as head of its pharmaceutical division after a 21‑year tenure.

During her time she oversaw commercial strategy, dealmaking and the growth of the “innovative medicines” unit, which now generates more than $60 billion in annual revenue. Tom Cavanaugh, currently chair of the North America branch, will assume the role on Sept. 1.

In separate news, Krystal Biotech’s stock fell nearly 30 % after the company reported that its gene therapy Vyjuvek missed revenue expectations for the second quarter.

Vyjuvek, approved for dystrophic epidermolysis bullosa, produced about $119.2 million in the quarter, a 24 % year‑over‑year increase but below analyst consensus.