France's biggest drugmaker Sanofi has appointed Novartis executive Paul Hudson to replace CEO Olivier Brandicourt who will retire in September.
"Hudson will take over on Sept 1,'' Sanofi said yesterday, confirming a Reuters report published on Thursday and marking the latest transfer of a Novartis executive to a competitor.
UK-born Hudson, 51, has been CEO of the Novartis pharma unit, one of the Swiss company's three main divisions, since 2016.
Earlier, he worked at Schering Plough and AstraZeneca.
Novartis named Marie-France Tschudin, president of its advanced accelerator applications unit, to replace Hudson with immediate effect.
"Hudson has been chosen because of his reputation. He is known as a solid manager and has digital expertise relating to pharmaceuticals," a Sanofi source said on Thursday.
Brandicourt was hired in 2015 to help to revive the fortunes of Sanofi and has been actively reshaping the business.
Under his tenure, the company swapped its animal health unit with Boehringer Ingelheim for the German company's consumer healthcare operations in a $20 billion deal.
Sanofi also sold its European generics arm for €1.9 billion ($2.1 billion) to private equity firm Advent International.
New launches such as eczema treatment Dupixent, cost-cutting measures and new priorities in research and development enabled Sanofi to return to profit in the second half of last year after a series of disappointing quarters.
Hudson's departure follows the exit of Samit Hirawat, head of oncology drug development, who is to become chief medical officer at Bristol-Myers Squibb in a move announced on Wednesday.
