Wyeth has elected Bernard Poussot (photo) as President and CEO, effective January 1, 2008. Poussot began his career at Wyeth in 1986 and most recently held the COO position of the company. He is replacing retiring CEO Robert Essner, who was named to the top spot in 2001.
Poussot has quite a job ahead of him. Wyeth has had a tough time as of late, experiencing a number of setbacks as the company struggles to develop new drugs. Wyeth had to suspend a Hepatitis trialÂ and was recently served a pair of FDA rejections. The company also faces generic competition when its depression drug Effexor goes off patent in 2010, and the wolves are already circling for the generic development of Wyeth's blockbuster heartburn drug Protonix.
- see the release from Wyeth for more
ALSO: Simon Lowth, an outsider, has been named CFO of AstraZeneca. The company had indicated earlierÂ that it would be looking for a fresh candidate for the position after previous CFO Jon Symonds quit in June. Release
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