J&J oncology vet takes the helm at foundering Dendreon

Struggling Dendreon ($DNDN) has named a new CEO in W. Thomas Amick, a longtime Johnson & Johnson ($JNJ) vet. There, he launched Procrit and built J&J's oncology franchise into a multibillion-dollar operation, Dendreon said Thursday. But he'll have his hands full with the Seattle-based biotech, which is facing dismal sales of its cancer vaccine, Provenge, and a debt pileup. Release