Mr Fletcher has been a director of Neurobiological Technologies since February 2007. With the acting CEO appointment, the board of directors has discontinued its previously announced search for a permanent, full-time president and CEO.
Mr Fletcher has been chairman, Teva Pharmaceuticals North America since December 2004. Prior to that, he was president and CEO of Teva’s North American activities from 1985 until the end of 2004.
Mr Fletcher said: “Together with the rest of the board of directors, I am committed to determining the best direction for Neurobiological Technologies as we evaluate alternatives following the failure of our Viprinex program for stroke.
“I intend to lead this process in a disciplined and expeditious manner. We are continuing to downsize the company while critically assessing our obligations and commitments in order to determine the best value for our shareholders.”