BMS merges U.S., global units; U.S. president departing
Bristol-Myers Squibb has reorganized its operating units, consolidating global pharmaceutical operations under one person, the company says.
Lamberto Andreotti has been promoted to president of its Worldwide Pharmaceuticals division and executive vice president of BMS.
The company also said that Donald J. Hayden, Jr., president of its Americas division, will leave the company in six months.
BMS' three non-pharmaceutical divisions also have been consolidated into a new healthcare group, with their presidents reporting to BMS CEO Peter R. Dolan on an interim basis, the company said.
In a statement, Dolan said the moves are intended to help the firm take advantage of new opportunities in its portfolio, including this year's approval of Baraclude (entecavir), as well as favorable FDA advisory committee votes on Pargluva (muraglitazar) and Orencia (abatacept).
"This realignment will help [Andreotti] expand on these successes, and take them to the next level as our portfolio fully transitions and we prepare to return to expected sales and earnings growth beginning in 2007," Dolan said.
Most recently Andreotti oversaw the firm's pharmaceutical operations outside the U.S.
He also was responsible for two of the three non-pharmaceutical units, the infant formula and nutritional product division Mead Johnson Nutritionals and ConvaTec, maker of ostomy and wound therapy products. The third healthcare unit is Medical Imaging.
Dolan also hinted at a potential regulatory submission this year for dasatinib, BMS' Src/ABL kinase inhibitor being investigated for the treatment of chronic myelogenous leukemia (CML). The drug continues in Phase II trials, and the company said it plans to review data this fall.