Actavis names new CEO
REYKJAVIK, Iceland Icelandic generic drug maker Actavis has appointed a new chief executive, Actavis said last week.
Actavis announced the appointment of former Ratiopharm leader Claudio Albrecht as CEO, effective immediately. Albrecht has worked in the generic drug industry for more than 20 years, having started with Sandoz in 1987. He began working for Ratiopharm in 2000 as global CEO and established pharmaceutical consultancy Cometh in 2008.
“I am delighted that we have attracted someone of Dr. Claudio Albrecht’s caliber to Actavis,” Actavis Group chairman Thor Bjorgolfsson said. “I am certain that the group will benefit considerably from his extensive leadership qualities. His experience and determination will help drive future growth in our great company.”
Former Johnson & Johnson head dies at 94
NEW BRUNSWICK, N.J. A former leader of one of the largest health conglomerates in the world died Friday at 94.
Richard Sellars rose from junior salesman to chairman of the board and CEO during a career that spanned 40 years at Johnson & Johnson. Sellars joined Johnson & Johnson’s sales force in 1939, and began a rapid rise within two of the company’s major affiliates, Ortho Pharmaceutical Corp. and Ethicon. He became president of the company in 1970, and chairman of the board one year later. In 1973, he became chairman and CEO, a position he held until his retirement from that post in 1976. From then until his retirement in 1979, Sellars served as chairman of Johnson & Johnson’s finance committee. One of his many accomplishments while at Johnson & Johnson was being part of the New Brunswick Tomorrow project to revitalize the city that held the company’s headquarters.
“Richard Sellars was an inspirational leader who filled all who met him with a deep sense of the company’s responsibility to its customers, employees, community and shareholders,” said William Weldon, chairman and CEO, Johnson & Johnson. “He will be missed.”
Sellars is survived by his wife, Doris, four children, nine grandchildren and 13 great-grandchildren.
Gilead to acquire CGI
FOSTER CITY, Calif. Gilead Sciences plans to acquire a development-stage pharmaceutical company for up to $120 million, Gilead said Friday.
Privately held CGI Pharmaceuticals has developed a library of drugs that have potential to treat inflammatory diseases such as rheumatoid arthritis. The majority of the $120 million will be an upfront payment, and the remaining will be based on clinical development progress, Gilead said.
“The acquisition of CGI represents a unique opportunity to expand our research efforts in an interesting and promising area of drug discovery,” Gilead EVP research and development and chief scientific officer Norbert Bischofberger said.