Abbott Laboratories (ABT) said it named a new head of its
pharmaceutical unit.
The Abbott Park, Ill., health-care products company said in a
regulatory filing Monday that it named Olivier Bohuon executive
vice president of pharmaceutical products, effective Aug. 1. He was
previously senior vice president of international
pharmaceuticals.
Bohuon succeeds James Tyree, who will move to a new role as
president of Abbott Biotech Ventures Inc., a unit that invests in
early-stage pharmaceuticals and biologics.
Abbott's pharmaceutical unit is its biggest, contributing more
than 55% of total company revenue. After a period of strong growth,
the unit posted a sales decline for the first quarter, partly
because of a slowdown in sales of its top product, Humira for
rheumatoid arthritis and other conditions.
Tyree has had senior posts in the pharmaceutical unit since
2006. He was elected an Abbott corporate officer in 2001. Bohuon
has held leadership posts in European and international operations
since 2003, the year he was elected a corporate officer.
An Abbott spokesman wasn't immediately available.
Abbott shares fell 25 cents to $45.80 in recent trading.
-Peter Loftus, Dow Jones Newswires; 215-656-8289;
peter.loftus@dowjones.com