Abbott Laboratories, a big pharmaceutical company unveiled the leadership team for the proprietary pharmaceutical division that it plans to separate into an independent company.
The big pharmaceutical company Abbott had previously disclosed that Richard A. Gonzalez, the 57-year-old leader of Abbott's pharmaceutical business, will serve as chairman and chief executive of the new pharmaceutical company, AbbVie, which Abbott plans to establish via a tax-free distribution of AbbVie shares to Abbott shareholders by the end of this year.
Abbott Labs disclosed in a filing Monday with the U.S. Securities and Exchange Commission that it is tapping other in-house executives to go with Mr. Gonzalez to lead AbbVie.
They include William J. Chase, 44, who will serve as the pharmaceutical company AbbVie's chief financial officer; he is currently vice president of licensing and acquisitions at Abbott Laboratories.
Abbott Laboratories' general counsel, Laura J. Schumacher, 48, will take the same position at AbbVie. AbbVie will name John M. Leonard as senior vice president of pharmaceutical research and development. Dr. Leonard currently holds the same position at Abbott.
Also, AbbVie will name Carlos Alban as senior vice president of proprietary pharmaceutical products, global commercial operations, the same position he holds at Abbott Labs. Timothy J. Richmond, currently divisional vice president of compensation and benefits at Abbott Labs, will serve as chief human resources officer at AbbVie.
Abbott also disclosed compensation for some of the top officers of AbbVie.
Read the full article at Fox Business (link no longer working)
Read: more on dealtalk in pharma, biotech, life science partnering deal news, insights and glossary
Read: Big pharma deal news - latest deal news for top 50 pharma / big pharma companies
Report: Partnering Deals and Alliances with Abbott Laboratories
View: Top 50 pharma – overview of top 50 pharmaceutical companies by revenue – partnering activity, deal news, partnering dealtalk
View: Current Partnering’s Partnering Scorecard – view top life science partnering deals by value
View: Current Partnering’s Deal Metrics – the latest deal trend infographics for life science deal making
View: Current Partnering’s Big Pharma Deal Making Scorecard – latest trends in big pharma deal making activity
View: Current Partnering’s Big Biotech Deal Making Scorecard – latest trends in big biotech deal making activity