The Power Of Women Shaping The Future Of Healthcare

By Christine Ann Miller

As a CEO and a member of the Biotech CEO Sisterhood, I see a disconnect in our industry. Women are driving breakthrough innovations, leading successful companies through crisis, and delivering results that shape healthcare's future. Yet despite representing half the population, our leadership and contributions too often remain unsung. This is my call to action: to elevate and celebrate the phenomenal women defining and transforming healthcare.

Women As Catalysts In Biotech's Toughest Times

Biotech has faced serious headwinds lately. After capital flowed freely in 2020 and 2021, harsh realities followed: failed clinical trials, challenging fundraising, market contractions, and investor flight. Q2 of this year marked a devastating milestone. ZERO biotech IPOs - the first time in 15 years. 

Instead of being deterred, I've seen women step up with extraordinary resilience and pragmatism. We don't simply wait out tough market cycles. We make hard calls and drive real progress.

Consider Heather Turner, CEO of LB Pharmaceuticals. Against an industrywide IPO drought, she led LB through a remarkable $285 million Nasdaq IPO, the first major biotech IPO in seven months. This wasn't just about numbers. Heather's leadership is marked by steady execution, transparent communication, and the ability to make difficult strategic choices. She previously navigated Carmot Therapeutics through both IPO and M&A negotiations, culminating in its $2.7 billion acquisition by Roche. 

Sarah Boyce of Avidity Biosciences led her team to a successful $600 million capital raise after demonstrating promising clinical milestones in Duchenne Muscular Dystrophy, upsizing the original offering when results surpassed expectations. Most recently, Sarah has further elevated her leadership. Under her stewardship, Avidity Biosciences entered into a definitive agreement to be acquired by Novartis AG for approximately U.S. $12 billion. This milestone underscores not only the scientific and operational achievements of her team, but also Boyce’s ability to create significant strategic value and drive major corporate transactions. It’s another clear example of the bold, data-driven leadership our field needs. These achievements signal clinical excellence, organizational resilience, and the kind of bold, data-driven leadership our field needs.

Sheila Gujrathi, another Sisterhood member and author of The Mirror Effect, exemplifies the courage required to break through leadership barriers. Her book lays out the journey of overcoming self-doubt and cultural expectations, helping emerging leaders recognize their own talents and leadership power. These are blueprints for long-term, industrywide change.

What I've observed is that women CEOs bring something essential to the mix. We don't oversell. We make realistic, pragmatic representations about what we can deliver, and we consistently execute against those commitments. That consistent ability to do what you say you're going to do builds confidence over time.

The Network Effect: Why Sisterhoods Matter

There's a reason the Biotech CEO Sisterhood was recognized in the Fierce 50 this year. What began in 2021 when Angie You, Julia Owens, and Sheila Gujrathi cofounded the organization, has grown into a movement of over 400 women CEOs, with CxO Sisterhoods now forming as well. For women, access to genuine networks isn't just about camaraderie — it's about collective elevation and resilience in a field where we remain rare at the top.

Historically, informal "golf course deals" benefited male executives. Women need spaces to gather, network, and advocate for each other. In our group, support is instant. Whether it's advice on a capital raise, feedback on a strategic plan, or sometimes just someone saying, "I've been there too." When you have so many people willing to help you succeed, paying it forward becomes natural. 

Recognition Gaps: Why Aren't Women Seen?

I'll be honest, I recently had a successful company exit. While I shared the news on LinkedIn, many in my network were unaware of it because I wasn't broadly promoting it. And when people did congratulate me, my immediate instinct was to redirect credit to my team. I felt uncomfortable being perceived as taking all the credit. Of course, I was promptly reminded that a great orchestra needs a great conductor. 

This reflects a pattern I've observed across women leaders. Male colleagues taught me a crucial lesson during performance reviews years ago: "You have to say you're amazing so that they think you're amazing." Initially, this felt wrong … almost disingenuous. But I've learned that setting expectations for recognition isn't about ego. It's about ensuring that the work gets seen, that your team's contributions are valued, and that your organization's impact is understood. The worst thing that can happen isn’t taking too much credit; it’s failing to promote yourself AND your team. Silence serves no one.

Women are generally very keen on seeing others' work. We see it, we talk about it, and we celebrate it. But we struggle to do the same for ourselves.

Building The Future We Need

For organizations and industry leaders, supporting women starts by intentionally using every available platform to spotlight women who consistently deliver results and drive outcomes under pressure. Are you only highlighting people who come telling you about their achievements, or are you looking around to see who's consistently showing up and making an impact?

What needs broader recognition is that women CEOs are not just succeeding, we're excelling precisely because we lead authentically as women. The genuine care for and commitment to putting people first, the focus on building culture, aren't weaknesses to overcome, they're competitive advantages that drive real results. We don't need to change who we are or try to emulate traditional male leadership styles. Authenticity is what creates followership and sustains long-term success. In other words, women in leadership are good for business.

The Work Ahead

Recent successes like the LB Pharma IPO and Avidity's massive funding round and acquisition aren't anomalies. They're the result of exceptional CEOs, who happen to be women, demonstrating perseverance, resilience, strategic thinking, and outstanding execution under pressure. These accomplishments showcase leadership excellence that deserves recognition and support, not as a gender-specific achievement, but as proof that these leaders are at the top of their class, period. 

Yet the question remains: why isn't it more broadly recognized that women CEOs are consistently delivering breakthrough results? Part of the answer lies in visibility. We still need to do better at being seen. But organizations and industry leaders also must actively spotlight talented leaders who may not be self-promoting, recognizing that the absence of noise doesn't indicate the absence of impact.

To the next generation of women leaders I say: “Embrace visibility, even when it feels uncomfortable.” Practice articulating your impact and connecting the dots between your work and your company's broader mission. Know your purpose and say with confidence how your contributions — and your team's contributions — advance that purpose. Lead authentically as yourself, don't try to fit into someone else's mold. The qualities that make you uniquely effective as a woman in leadership are strengths, not obstacles. Balance that authenticity with the discipline of ensuring your work is visible and valued.

Do this not just for yourself, but for your team and for every woman who sees your story and believes she too can lead. Seek out the kind of networks that both challenge and support you, amplifying what you're capable of. The future of healthcare depends on it.

About The Author:

Christine Ann Miller, who served as the President & CEO of Melinta Therapeutics, is a forward-thinking, transformational leader who has dedicated her career to establishing clinical, operational, and commercial excellence across the pharmaceutical life cycle.