Former Celgene CEO Bob Hugin speaks at an event in 2015. Photo: David A. Grogan / CNBC/NBCU Photo Bank via Getty Images
Bob Hugin, former CEO of pharmaceutical company Celgene, will run as a Republican in New Jersey's U.S. Senate race this November, Bloomberg reports. If he wins his party's primary, he will square off against Democratic incumbent Bob Menendez.
The bottom line: Hugin told me last month at the J.P. Morgan Healthcare Conference that he was seriously considering a run. But Hugin likely will have to answer major questions about his past at Celgene, a company that has made it a habit of levying large price hikes on its drugs.