Drugmaker Roche has named a new head for its key pharmaceuticals division, after it took full control of U.S.-based biotech firm Genentech earlier this year in a deal worth $47 billion. Genentech chief executive Pascal Soriot will take the helm at the division, replacing long-serving William Burns, who moves to the company’s board of managers next year, said the Wall Street Journal. Soriot’s new responsibilities will include global commercial operations and marketing, production, development and registration. Roche also named a new head for its diagnostics division. Daniel O’Day will replace Juergen Schwiezer, who retires at the end of the year. Jonathan Knowles, who is responsible for the company’s research, will also retire. “Following the conclusion of the Genentech integration, we will continue to bring innovative healthcare solutions to patients worldwide through a diversity of research approaches and through efficient global development and commercialization,” Roche chief executive Severin Schwan said. “This broadened and younger corporate executive committee will continue to drive Roche’s long-term vision as the world’s leading biotech company.” Earlier this year, Roche raised its guidance for 2009 earnings, driven by cost savings from the Genentech deal, but also by unexpected sales from the company’s antiviral drug Tamiflu in light of the pandemic spread of the A/H1N1 swine flu virus.
Roche Names Soriot as New Head of Pharma
Genentech chief executive Pascal Soriot will take the helm at the division, replacing long-serving William Burns, who moves to the company’s board of managers next year.
September 8, 2009