UPDATE: Abbott Labs Names New Head Of Pharmaceutical Unit
07 Juillet 2009 - 10:55PM
Dow Jones News
Abbott Laboratories (ABT) named a new head of its pharmaceutical
unit, while the outgoing division chief takes over a new Abbott
investment arm.
The Abbott Park, Ill., health-care products company said in a
regulatory filing Monday 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 new unit that will
invest in early-stage pharmaceuticals and biologics.
Abbott spokeswoman Melissa Brotz said Tyree has experience
identifying and securing pharmaceutical investments. In an earlier
position with Abbott he served as vice president of global
licensing and new business development. As for Bohuon, Brotz said
Abbott's international pharmaceutical business has done extremely
well under him.
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.
Abbott shares fell 66 cents to $45.34 Tuesday.
-Peter Loftus, Dow Jones Newswires; 215-656-8289;
peter.loftus@dowjones.com