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Graham Parry, a research analyst at Merrill Lynch who covers the sector, also warned clients late Tuesday that Gottlieb’s resignation was a “net negative for innovative biopharma companies.”

Over the past year, Gottlieb, who previously served on the board of several drug companies and worked as an industry consultant, approved a record number of new and generic drugs.

“Gottlieb, in our view, as a healthcare policy expert, has been a key influence and architect, along with HHS secretary Alex Azar (former Pharma executive), of relatively innovator-friendly, evidence-based Trump administration healthcare policies and reforms laid out in its drug pricing blueprint last year,” Parry added.

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