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Merck Announces Further Management Changes

Published: Wednesday, October 02, 2013
Last Updated: Wednesday, October 02, 2013
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Stefan Oschmann to focus on role as Head of Pharmaceuticals in charge of Merck Serono, Consumer Health, Allergopharma and Biosimilars.

Merck today announced multiple management and organizational changes in its pharmaceutical businesses to maximize growth opportunities going forward. Belén Garijo, currently Chief Operating Officer at Merck Serono, the biopharmaceutical division of Merck, has been appointed President and Chief Executive Officer of Merck Serono, effective October 1. She will succeed Stefan Oschmann, who as Member of the Executive Board and Head of Pharmaceuticals at Merck, will focus on further developing the Merck Serono and Consumer Health divisions as well as the Allergopharma and Biosimilars units. All four entities will report to Stefan Oschmann.

“Following our transformational journey over the past two years, we have reached a critical juncture with accelerated profit growth at Merck Serono and a successful re-focusing of our Consumer Health division,” Executive Board Member Stefan Oschmann said. “I’m absolutely convinced that with today’s management and organizational changes we will be able to fully leverage the growth potential in our pharmaceutical businesses by focusing on fast-growing areas such as the emerging markets and the global allergy market or the rapidly evolving biosimilars market. At Merck Serono, we are proud to have in Belén Garijo one of the most successful leading women in our industry, who – with her broad leadership experience spanning medical, strategic, and commercial roles – will be able to take Merck’s largest division to the next level.”

As part of the organizational changes at Merck Serono, the company also appointed Dr. Annalisa Jenkins, MBBS, MRCP, currently Head of Global Development and Medical, as Head of Global Research & Development, effective October 1. Under her leadership, Merck Serono aims to further integrate the two fields as a number of compounds in the division’s pipeline are reaching late-phase development. Following the appointment of Jim Stewart as Chief Information Officer of the Merck Group at the end of last month, Thierry Hulot, Head of the Biosimilars unit, has been named to succeed Jim Stewart as Head of Global Manufacturing & Supply as of October 1. Hulot will continue to lead the Biosimilars unit on an interim basis until a replacement has been announced. All global functions within Merck Serono – including R&D, Manufacturing & Supply, Operations and Business Development – will report to Garijo.

Reflecting the rising importance of Allergopharma and Biosimilars, the two units will report directly to Oschmann. Following the acquisition of the remaining interest in Allergopharma in December 2012, Merck aims to further tap into the global allergy market with a very competitive product range. With its investments in the evolving biosimilars market, the company expects to benefit from rising demand for biotechnology solutions to address unmet medical and access needs in many parts of the world.

Generating total revenues of € 6.4 billion in 2012, Merck Serono is the largest division of Merck. Overall, the pharmaceutical businesses of Merck accounted for around 60% of total revenues and 58% of EBITDA pre one-time items last year.

Page 3 of 4 Dr. Stefan Oschmann, Ph.D., has been a Member of the Executive Board of Merck since January 2011. He is responsible for the Pharmaceuticals businesses including the divisions Merck Serono and Consumer Health as well as Allergopharma and Biosimilars as of October 1. Before joining Merck, he worked for the U.S. company MSD (in North America Merck & Co.), where he served most recently as President of Emerging Markets.

Dr. Belén Garijo, MD, is designated President and Chief Executive Officer for Merck Serono and in her new role will chair the Pharmaceutical Executive Committee as of October 1. She joined the company in 2011, previously serving as Chief Operating Officer. Prior to joining Merck Serono, Dr. Garijo was Senior Vice President, Global Operations Region Europe at Sanofi from 2006, based in Paris, serving as a member of the Management Committee for the Sanofi-Aventis Group, and as a member of the Management Board for the Sanofi-Pasteur vaccines JV with MSD. In 2011, she took on the additional role of Global Integration Leader for the Genzyme acquisition. Belén Garijo has been an Independent Member of the Board of Directors of Banco Bilbao Vizcaya Argentaria SA (BBVA) since 2012.

Dr. Annalisa Jenkins, MBBS, MRCP, is Executive Vice President, Head of Global Research and Development for Merck Serono. In addition, she leads Global Medical Affairs and Quality and is a member of the Pharmaceutical Executive Committee. She joined the company in 2011, previously serving as Head of Global Development and Medical. Prior to joining Merck Serono, Dr. Jenkins was Senior Vice President, Global Medical Affairs at Bristol-Myers Squibb (BMS). During her tenure at BMS she made significant contributions to the globalization of Medical Affairs, the progression of a number of the key pipeline programs and the execution of a number of strategic transactions. Dr. Jenkins is on the board of Transcelerate Biopharma Inc., the Concert Artists Guild New York and the corporate advisory board of the Center for Talent Innovation. She is also a member of the Scientific Leadership Advisory Council at PhRMA.

Thierry Hulot, Pharma D, MBA, is Senior Vice President, Head of the Biosimilars unit for Merck Serono and designated Head of Global Manufacturing & Supply as of October 1. Thierry Hulot is also a member of the Pharmaceutical Executive Committee. He joined Merck Santé in 1995 as head of Pharmacokinetics and drug metabolism based in Lyon, France and was later appointed team leader for a Phase II program, then Director of Global Early-Stage Projects and Project Management within the Merck Group. During the Merck Serono integration he built the project management function. From 2010, he led Merck Serono’s CEO office until taking on his current role as head of the Biosimilars Unit in 2012.

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