Background
Dolan, Peter Robert was born on January 6, 1956 in Salem, Massachusetts, United States. Son of John Ralph and Lois (Burkhart) Dolan.
Dolan, Peter Robert was born on January 6, 1956 in Salem, Massachusetts, United States. Son of John Ralph and Lois (Burkhart) Dolan.
Dolan attended Tufts University near Boston, Massachusetts, earning a Bachelor of Arts in 1978 before going to the Tuck School of Business at Dartmouth College in Hanover, New Hampshire to earn his Master of Business Administration in 1980.
In 2009, he became Chairman and Chief Executive Officer of Gemin X Pharmaceuticals after joining board in July 2008, he was formerly the chief executive officer of Bristol-Myers Squibb before being discharged from that company in September 2006 as a result of a federal investigation into questions concerning the patent of drug Plavix. In 1983, Dolan began working at General Foods, rising to general product manager by 1986. In 1988, he took a job at Bristol-Myers Squibb.
While at Bristol, Dolan was involved in developing the cancer-treating medication Erbitux, as well as, before becoming chief executive officer, making the consumer products and medical device divisions of Bristol successful.
Dolan became Chief Executive Officer in May, 2001, replacing Charles Heimbold. Subsequently, Bristol was involved in a major financial scandal when, in the words of a Reuters report, it "was accused of exaggerating revenue by $2 billion from 2000 to 2001 by coaxing wholesalers to buy far more of its drugs than they could hope to sell".
The company avoided criminal charges by accepting probation in June 2005, and Dolan brought in former United States federal judge Frederick B. Lacey to act as an adviser to Bristol. In 2006, Forbes reported that Dolan was 250th in compensation among Chief Executive Officer"s in the United States, earning a single year $5.54 million to make a five-year total of $17.80 million.
In September 2006, Dolan was fired from Bristol on the recommendation of Lacey in response to a federal investigation that followed questions concerning the patenting of Plavix.
Bristol was accused of attempting to prevent the marketing of a generic competitor for the drug by entering into a secret, unlawful arrangement with Canadian generic-manufacturer Apotex. The investigation centered around statements allegedly issued by Doctor Andrew Bodnar, who was an adviser to Dolan assigned to settle the situation with Apotex. A New York Times article from 2006 indicated that Lacey criticized Dolan for not properly communicating with the Bristol board about the situation.
Bristol provided Dolan a severance package with a combined value of approximately $10.7 million, expressing appreciation for his service but also indicating that it held Dolan "accountable" as chief executive officer for the Plavix incident.
As of 2007, Dolan had not released an official comment on the Plavix situation, nor had he been charged in conjunction with the investigation. In July, 2008, Dolan was appointed to the Board of Gemin X Pharmaceuticals. and became Chief Executive Officer and Chairman in 2009.
Gemin X was sold to Cephalon for $225 million in March 2011 with an additional $300 million in future milestones. He founded a non-profit organization called ChildObesity 180, which has raised over $10 million in funding. program
He has continued active ties with his alma maters.
He serves as a trustee at Tufts University and is now Chairman of the Board, also sitting on several committees. In 2013, he was elected as Tufts University Chairman of the Board to take office in the fall.
Board directors New York Botanical Garden, National Center on Addiction and Substance Abuse at Columbia University, C-Change. Board trustee Tufts University. Member of Young President Organization, Non-Prescription Drug Manufacturers Association (board directors 1993).
Married Katherine Helen Lange, September 12, 1981. Children: Christopher Lange, Timothy Lange.