Roche has tapped Pascal Soriot to head up its pharma division after entrusting him with the job of integrating Genentech into the company's multinational operations and helping transform the company into the world's largest biotech operation.
Soriot had been named CEO of Genentech back in April as Roche moved in to swallow the biotech company. In other new appointments, Ian Clark, currently head of global product strategy pharma, takes over as the new CEO of Genentech. Daniel O'Day, who runs the molecular diagnostics business, was named chief of the company's diagnostics unit. O'Day is replacing Juergen Schwiezer, who plans to retire along with Jonathan Knowles, who runs group research. "This broadened and younger corporate executive committee will continue to drive Roche's long-term vision as the world's leading biotech company," Schwan said.
From the moment that Roche completed its quest to acquire the outstanding shares of Genentech the pharma giant has been moving its own people in as Genentech's top guns move out. Roche says it intends to act like a biotech company from now on. But Roche insiders clearly intend to lead the way, rather than rely on Genentech officials to show them how. Analysts now will look to see if any of Genentech's extraordinarily innovative drug development culture survived the takeover.
- read the Wall Street Journal report
- check out the Reuters story