New Sanofi CEO Paul Hudson is days away from unveiling his plans for the French drugmaker, but the company’s top strategy executive won’t wait that long to leave.
Muzammil Mansuri, Sanofi’s executive vice president of strategy and business development since February 2016, will retire by the end of the month, a spokeswoman confirmed. Reuters first reported the departure Friday morning.
Mansuri has played a “key role” in Sanofi’s strategic moves over the last four years, overseeing recent acquisitions and “structuring partnerships and alliances that contributed to the deployment of our strategy and growth,” Sanofi’s spokeswoman said. The retirement had been planned, she added.
Sanofi’s recent acquisitions include two wrapped up last year: the hemophilia-focused Bioverativ for $11.6 billion and nanobody biotech Ablynx for $4.8 billion. The moves were designed to reduce the drugmaker’s reliance on diabetes and cardiovascular meds, which have been struggling against pricing pressure and stepped-up competition for several years.
With Mansuri’s departure, Sanofi said Alban de La Sablière, its business development head, and Laurent Van Lerberghe, its strategy head, will take on more responsibilities starting Dec. 1.
The news comes a few months into Hudson’s tenure and ahead of an investor event Dec. 10 in Cambridge, Massachusetts. Since he joined Sanofi from Novartis at the beginning of September, Hudson has been touring Sanofi’s facilities to learn as much about the company as possible.
He’s also been reviewing each of the company’s divisions, and Bloomberg reported this week the drugmaker is considering a sale or spinoff of its consumer healthcare business. The group brings in $5 billion annually.
Mansuri joined Sanofi from Gilead Sciences and had prior experience at Bristol-Myers, CGI Pharmaceuticals and Shell Research Limited.
By Eric Sagonowsky
Source: Fierce Pharma
As inflation, high interest rates and a tight investment environment continue to create headaches, 72% of CFOs said economic volatility poses the same or greater risk to their business this year compared to 2023 in a recent survey from BDO — and there are more changes afoot.
McMullen, who’s also currently president of Agilent, is set to abdicate both roles on May 1, according to an announcement the company put out Wednesday afternoon. From there, McMullen will spend a few months serving as an advisor to Agilent and to his successor until his retirement becomes final on Oct. 31.
AstraZeneca has concluded its acquisition of China-based clinical-stage biopharmaceutical company Gracell Biotechnologies for $1.2bn. The acquisition, initially agreed in December 2023, positions Gracell as a wholly owned AstraZeneca subsidiary with operations continuing in the US and China.