Actavis Announces Proposed Senior Leadership Team
Actavis plc has announced the planned senior management team that will lead the global pharmaceutical company following the successful close of the acquisition of Allergan, Inc., anticipated in the second quarter of 2015. Brent Saunders will continue to lead Actavis as CEO and President and a member of the Board of Directors.
Paul Bisaro will remain Executive Chairman of the Board of Directors. Mr. Saunders will lead an expanded senior management team comprised of leaders from both Actavis and Allergan, designed to further enhance the Company's position as the fastest growing and most dynamic growth pharmaceutical company in global healthcare.
"We are committed to realizing the full potential of the historic combination of Actavis and Allergan beginning on Day 1, and announcing the proposed leadership of the combined company is a critical step in achieving that objective," said Saunders. "The management structure we are announcing today will ensure that we capitalize on the value of Allergan's world-renowned businesses and the proven track record of the leaders of its powerful and critically important franchises. I am particularly pleased to announce that following the close Douglas Ingram, President, Allergan, will continue as a Special Advisor to me. The combined company will benefit from Doug's experience and expertise as we unite the two businesses, and help us ensure that we integrate the two companies while recognizing and capitalizing on Allergan's unique product portfolio and market leadership positions. In this structure we demonstrate our commitment to combine the 'best of the best' talent from both organizations.
"At close, this combined leadership will ensure that the new company capitalizes on our expanded global commercial footprint, maintains our continued dominance as a world leader in generics and that we elevate our commitment to brand innovation and development by making brand R&D directly report to the CEO level.
"Although we are acting rapidly in announcing these appointments, we are making them following extensive discussions with David Pyott, Chairman and CEO of Allergan, and his executive leadership team. We believe that by announcing the proposed structure of the combined organization our shareholders, customers and employee teams will better appreciate our commitment to create the most dynamic company in Growth Pharma and will share our confidence in seamless execution of this combination beginning on Day 1," Saunders added.
The Company noted that it anticipates continuing to define the subsequent management levels within the global organization as rapidly as possible between now and the close of the acquisition.
Commercial Business Structured for Global Success
To support continued momentum across the broader, brand product portfolio, Actavis has announced that, following the close of the acquisition, its global brand sales and marketing will be structured into three organizations: International Brands, Branded Pharma and Allergan Medical. Paul Navarre, Allergan Corporate Vice President and President Europe, Africa and the Middle East, will become Executive Vice President Actavis, and President, International Brands. William Meury, Actavis Executive Vice President for North American Brands will become Executive Vice President Actavis, and President, Branded Pharma with responsibility for Eye Care, Neurosciences, Gastroenterology, Urology, Women's Health and other Specialty brand portfolios. Philippe Schaison, Allergan Corporate Vice President, President Allergan Medical, will become Executive Vice President Actavis, President Allergan Medical, which will include Facial Aesthetics, Medical Dermatology, Plastic Surgery and SkinMedica. These individuals will report directly to Mr. Saunders.
"Our combined Company will have commercial operations in more than 100 countries, and a more complex combined portfolio of brand products," noted Saunders. "With Paul, Bill and Philippe, we will have the strongest and most dynamic commercial leadership team in the industry, ensuring that we retain the intellectual firepower that has driven Allergan's commercial success, while retaining a laser-like focus on continuing to drive strong growth among our existing portfolio."
Brand R&D to Report to Mr. Saunders
With a commitment to invest more than $1 billion in brand product development, the Company announced that brand pharmaceutical R&D for the combined company at close will be led by Actavis' C. David Nicholson, PhD, Senior Vice President, Global Brand R&D in the role of Executive Vice President, Branded R&D. Dr. Nicholson will report directly to Mr. Saunders.
"David's exceptional track record spanning more than 30 years in the pharmaceutical industry includes expertise in the development of a diverse portfolio of products including treatments in women's health, psychiatry, cardiovascular, anesthesiology, immunology and biological products," said Saunders. "We will look to David's leadership to capitalize on Allergan's R&D expertise by retaining its industry-leading talent, and combining it with the therapeutic category expertise of his Actavis team, to maintain momentum across development activities supporting the expanded Actavis and Allergan development portfolio."
The combined company is expected to have more than two dozen mid- and near-term products in development, and will maintain a focus on the strategic development of innovative and durable value-enhancing brand products. The Company is committed to maintaining Allergan's research and development expertise in its therapeutic categories, which is additive to Actavis, and reiterated that it intends to maintain a strong commitment to R&D activities at Allergan's Irvine, California location and continued investment in its development portfolio.
Generics and Global Operations to be led by Robert Stewart
To ensure continued strength of its industry-leading global generics business, Actavis announced that Robert Stewart, currently Actavis' Chief Operating Officer, will become Executive Vice President Actavis, and President, Generics and Global Operations. He will report directly to Mr. Saunders.
"By aligning generic sales and marketing, generic research and development and global operations under Bob, we will ensure that these critical functions continue to operate together with the strength and fluidity that has driven our generics business to the world-leading position in which it stands today," said Saunders. "Under this nimble structure, we will maintain our exceptional responsiveness to changing commercial needs, allowing us to maximize market opportunities and continue to drive strong performance within the business."
Proposed Senior Management Organization for Global Functions
To support the larger and more complex company, Actavis announced the senior management team for its Global Functions, which will report to Mr. Saunders. Maria Teresa (Tessa) Hilado will serve as EVP, Chief Financial Officer for the combined company. Robert Bailey will serve as EVP, Chief Legal Officer and Corporate Secretary. Karen Ling, will serve as EVP, Chief Human Resources Officer; Charlie Mayr will serve as EVP, Chief Communications Officer; Sigurd Kirk will serve as EVP, Corporate Business Development and Jonathan Kellerman will serve as EVP and Global Chief Compliance Officer. These positions will report directly to Mr. Saunders.
Finally, the Company announced that Alex Kelly, Actavis Senior Vice President and Chief Integration Officer; and Sanjiv Patel, Allergan Corporate Vice President, Global Strategic Marketing & Global Health Outcomes Strategy and Research, will share jointly in the responsibility for Pre-Integration Planning. Mr. Patel will also continue in his current role leading the Allergan Global Strategic Marketing and Global Health Outcomes Research and Strategy organization. As Pre-Integration planning continues the Company will focus on how to best align these groups into a larger organization to provide a vital link between the combined company's global brand product development and commercialization activities to optimize its impact. Both Mr. Kelly and Mr. Patel will report to Mr. Saunders.