Sanofi said on Monday that John Reed, its Global Head of Research & Development, would be parting ways with the company to pursue a new opportunity elsewhere.
“Under John’s leadership, our R&D organization has built a robust pipeline and sharpened its research focus, employing cutting-edge therapeutic platforms and creating a culture that responds to the urgent needs of patients. His contribution to our company’s transformation has helped pave the way for Sanofi’s emergence as a science-driven and innovation leader in our industry,” Paul Hudson, Sanofi’s Chief Executive Officer, said in a press release.
“As we continue to build an exciting Specialty Care and Vaccines portfolio, we look forward to the growing momentum of our pipeline. This is what we were aiming for when we laid our strategy in 2019, and the 2022 results we recently published confirmed our choices. 2023 will only strengthen our commitment to transform the practice of medicine,” the CEO added.
The company has initiated an internal and external search for the successor of John Reed. Meanwhile, Dietmar Berger will take the leadership of the R&D team ad interim.
Berger has been Sanofi’s Chief Medical Officer and Global Head of Development since he joined the company in 2019.
As of 10:20 GMT on Monday the shares of Sanofi SA (SASY) were losing 0.54% (EUR 0.48) to trade at EUR 88.22 in Paris, while extending the loss from Friday.
The healthcare company’s total market cap now stands at EUR 111.836 billion.
The shares of Sanofi SA went up 1.95% in 2022, compared with a 9.50% loss for the benchmark index, CAC 40 (FCHI).