By Sy Mukherjee
September 5, 2018

Happy Wednesday, readers. This is Sy.

Jackie Fouse, a longtime veteran of the biopharmaceutical industry, is headed to the CEO perch at Agios Pharmaceuticals.

The cancer-focused biotech announced Tuesday that Fouse will take the reins as chief executive as of February 1, 2019, replacing David Schenkein—the company’s longtime CEO who has overseen two critical cancer medication approvals and a blockbuster set of returns for shareholders (including more than 200% in market value growth in the past five years).

Fouse has been a prominent force in the life sciences industry (and a darling of the investing class that values her pragmatic touch) for a while now. She’s one of the most high-profile female executives in a sector that still tends to skew male, especially in the C-suite. Previously, Fouse rose up the ranks of Celgene to become that company’s president and chief operating officer, and was often mentioned as a contender for the top job at biotech giant Gilead.

In recent years, she joined Vivek Ramaswamy’s fledgling upstart Roivant Sciences as the chairman of the umbrella organization’s skin therapy-focused arm Dermavant (I spoke with Fouse and a group of other Roivant executives last year in a roundtable).

Agios investors appeared to laud the decision on Wednesday, with the firm’s shares rising 2.3%.

Read on for the day’s news.

Sy Mukherjee
@the_sy_guy
sayak.mukherjee@fortune.com

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