Daily Management Review

Novartis Executive Named As Sanofi’s C.E.O


06/14/2019


Sanofi’s months-long search for new chief executive meets a successful end.



Sanofi is a French giant in the pharma industry which has announced Paul Hudson as its new C.E.O who is set to be Olivier Brandicourt’s successor post his retirement in September.
 
Hudson is a current “top executive” at Novartis, which is a Swiss rival of Sanofi, is going to take up his new responsibilities from September 1, 2019, confirmed Sanofi. A source from Sanofi had informed:
“Hudson has been chosen because of his reputation. He is known as a solid manager and has digital expertise relating to pharmaceuticals”.
 
Hudson if 51 years old and has been holding the chief executive’s chair of “Novartis Pharmaceuticals unit” from 2016, while his prior experiences include positions at “Schering Plough and AstraZeneca”. Moreover, as mentioned earlier, Hudson also holds a member’s position at the “Novartis executive committee”.
 
On the other hand, Marie-France Tschudin has been named to head the drug business at Novartis following Hudson’s departure. The search for a new C.E.O at Sanofi began some months ago.
 
Brandicourt, the current C.E.O of Sanofi joined the company in 2015 for helping it in reviving “the fortunes of France’s biggest drugmaker”. Since then, Brandicourt has been actively involved in “reshaping the business”. According to Reuters:
“Under his tenure, the company swapped its animal health unit with Boehringer Ingelheim in exchange for the German company’s consumer healthcare operations in a $20 billion (£15.8 billion) deal. It has also sold its European generics arm for 1.9 billion euros (£1.7 billion) to private equity firm Advent International.
“New launches such as eczema treatment Dupixent, cost-cutting measures and new priorities in research and development have also enabled Sanofi to return to profit in the second half of last year after a series of disappointing quarters”.
 
However, the teams of Brandicourt faced two major failures as “two strategic acquisitions” slipped through their hands, whereby Sanofi lost the chance of acquiring “California-based cancer specialist Medivation” which was bought over by Pfizer in the year of 2016 and the “Swiss biotech company Actelion” bought over by “Johnson & Johnson in 2017”.
 
 
References:
reuters.com







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