Management shake-up at Valeant as Papa expands senior team
pharmafile | August 9, 2016 | News story | Manufacturing and Production, Sales and Marketing | Valeant, joseph papa, management, shake up
Joseph Papa continues to remodel the plagued Valeant Pharmaceuticals, as a senior management shake-up has seen several new arrivals and the expansion of the existing executive committee.
Scott Hirsch joins the company as senior vice president of business strategy and communications. Be brings a wealth of health care sector experience in equity investments and risk management. He arrives at the company from Citadel Investment Group. Previously, he was the lead equity research analyst covering speciality pharmaceuticals and generics at Credit Suisse.
Hirsch says: “Valeant has some of the best assets in speciality pharma and a tremendous amount of untapped potential. I share Joe’s vision for the future of Valeant, and I am excited to work with him and the rest of the management team to create value for our stakeholders.”
He will be joined by Christina Ackermann, who will take the role of executive vice president and general counsel. She has held various legal roles at the Novartis group, most recently as senior vice president, general counsel for Alcon. She will succeed Robert Chai-Onn, who will be leaving after a transition period.
Also leaving the company are investor relations and public relations head, Laurie Little, with the president and general manager for Europe, Pavel Mirovsky, retiring later in the year. The moves will see the executive team, all reporting directly to CEO Joseph Papa, expanded with additions from the manufacturing and supply chain head, general manager of consumer business and chief medical officer.
Papa comments: “As we develop our strategic plan to create the new Valeant, we are adding top talent to the leadership team, promoting high-performing leaders from within, and creating new structures and processes to help strengthen operations as we move forward.”
In other Valeant news, the company also announced a new licensing agreement with Norgine, under which Valeant has obtained the rights to develop and commercialise NER1006, a low-volume polyethylene glycol-based bowel preparation for cleansing of the colon in preparation of colonoscopy. The drug is currently in late-stage trials.
Sean Murray
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