J. Craig Venter, the pioneer scientist who helped crack the human genome, resigned as president of Celera Genomics Group, the company he formed, to make way for someone with more experience developing drugs. ... The move comes as Celera attempts to transform itself from a provider of genetic information into a pharmaceuticals discoverer and manufacturer. Venter has limited experience in the pharmaceuticals business. ... Celera's shares fell 6.46 percent on the news. ... Venter said in a statement he will spend more time in his role as chairman of the board of the Rockville, Maryland-based Institute for Genomic Research, not-for-profit gene research organization he helped start in 1992.

Craig Venter resigns as head of Celera