WASHINGTON, April 16, 2015 /PRNewswire-USNewswire/ -- Today, Kenneth C. Frazier, chairman and chief executive officer (CEO) of Merck & Co., Inc., was elected chairman of the Board of the Pharmaceutical Research and Manufacturers of America (PhRMA). At today's Board meeting, PhRMA's president and CEO John J. Castellani announced that he will be retiring effective January 1, 2016.
New Officers Elected to PhRMA Board
Frazier formerly held the position of chairman-elect and succeeds Ian C. Read, chairman and CEO of Pfizer, Inc. Also elected were George A. Scangos, Ph.D., CEO of Biogen, as chairman-elect of the PhRMA Board of Directors and Joaquin Duato, worldwide chairman, pharmaceuticals, Johnson & Johnson, as Board treasurer.
"PhRMA is pleased to welcome Ken Frazier as chairman, and we extend our thanks and gratitude to Ian Read for his invaluable contributions over the last year," said Castellani. "Our member companies have never invested more in researching and developing innovative, targeted new medicines to fight life-threatening diseases. Ken's proven leadership ability and deep experience in the biopharmaceutical industry will be incredible assets for our organization and its member companies."
Before becoming chairman and CEO of Merck in 2011, Frazier served as president of Merck with responsibility for the company's three major divisions: Global Human Health, Merck's sales and marketing division for pharmaceutical and vaccine products; Merck Manufacturing, the company's manufacturing and supply division; and Merck Research Laboratories, Merck's research organization. He previously served as president of Merck Global Human Health from 2007 to 2010 and as general counsel, overseeing Merck's legal and public affairs functions and The Merck Foundation from 1999 to 2007.
Prior to joining Merck in 1992, Frazier was a partner with the Philadelphia law firm of Drinker Biddle & Reath. In addition to his position with PhRMA, Frazier sits on the boards of Weill Cornell Medical College and Graduate School of Medical Sciences, Exxon Mobil Corporation, The Pennsylvania State University and Cornerstone Christian Academy in Philadelphia. He received his bachelor's degree from Pennsylvania State University and holds a juris doctorate from Harvard Law School.
"Our industry is poised to translate our most promising scientific breakthroughs into meaningful treatments capable of tackling the most urgent and vexing medical challenges of our times," said Frazier. "We stand committed to driving progress for patients today – and hope for tomorrow.
"This imperative of inventing and innovating with the patient in mind has come to represent the industry I am proud to represent. I am honored to step into this role, and congratulate George and Joaquin as they take on new leadership roles. Together, and in partnership with all stakeholders in the health care ecosystem, we'll work to create a policy environment that is conducive to building a sustainable, value-driven health care system that serves all of us."
Dr. Scangos was appointed CEO of Biogen in June 2010. He joined the company from Exelixis, Inc., where he served as president and CEO since October 1996. From 1987 to 1996, Scangos held various positions at Bayer, Inc., including senior vice president of research and development, and president of Bayer Biotechnology, where he was responsible for research, business development, process development, manufacturing, engineering and quality assurance of Bayer's recombinant products. Before joining Bayer in 1987, he was professor of biology at Johns Hopkins University. Dr. Scangos received a B.A. in biology from Cornell University, and a Ph.D. from the University of Massachusetts.
"The accelerating pace of science, an increased understanding of the biology of disease and the use of emerging technologies are combining to enable meaningful advances in treating some of the world's most intractable diseases," said Scangos. "Developing breakthrough medicines requires creative policy solutions that ensure scientific discoveries are translated into treatments for patients as quickly as possible – and that these treatments contribute to a more productive and prosperous society."
Duato became worldwide chairman, pharmaceuticals, Johnson & Johnson, in January 2011. Prior to his current role, Duato held the positions of company group chairman, the Americas, and company group chairman, Ortho Clinical Diagnostics, Inc. Duato joined Johnson & Johnson in 1989 in Janssen-Cilag Spain and later became managing director of Janssen-Cilag Italy. He then led Ortho Biotech Europe before relocating to the United States in 2002 as vice president for the Ortho Biotech Oncology Franchise. He was named president, Ortho Biotech Products, L.P. in 2005. A native of Valencia, Spain, Duato holds an undergraduate degree in economics and two Master's degrees – one in business administration from ESADE Business School in Barcelona; the other in international management from Thunderbird in Phoenix, Arizona.
"The global scale of our businesses enables us to attack the global scale of disease more quickly, and, more powerfully, than ever before," Duato said. "It also gives us greater insight into the changing nature of disease, too, helping us evolve and expand our pipelines to ensure that patients in the U.S. and around the world can fight back with the strongest treatment arsenal possible."
Castellani Announces Retirement
Castellani will step down as president and CEO of PhRMA after successfully leading the association since September 2010. At the Board meeting, Frazier thanked Castellani for his service.
"On behalf of the PhRMA Board of Directors, I want to thank John for his steadfast leadership at PhRMA over the past five years," said Frazier. "He has been a strong advocate on behalf of the biopharmaceutical research industry and for the millions of patients we serve all around the world. Under John's leadership, PhRMA has worked tirelessly to protect and strengthen an environment that fosters the continued development of new life-saving therapies and to ensure patients can access the medicines they need to live longer, healthier lives.
"Thanks to John's leadership, PhRMA is strong and well positioned in Washington today. We greatly appreciate his service and we wish him the best of luck in his retirement."
Frazier announced that the search for Castellani's successor will begin immediately and will be led by the PhRMA Board's Nominations and Compensation Committee. Korn Ferry has been retained to conduct the search.
"A hallmark of John's tenure has been good management and by announcing his retirement in this way, we have an opportunity to manage this transition smoothly. The Board will work with him and the rest of the senior PhRMA leadership team to ensure there is continuity during this time period," said Frazier.
"It has been a great honor and privilege to serve in this position for the past five years. Representing the biopharmaceutical industry has been one of the most rewarding experiences of my career and I am very proud of the incredible work our members do every day to improve the lives of patients," said Castellani. "PhRMA is in good hands with the tremendous leadership provided by Ken and the rest of Board of Directors and a hard-working, talented and dedicated team that is committed to the mission of the organization and its members."
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country's leading innovative biopharmaceutical research and biotechnology companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives. Since 2000, PhRMA member companies have invested more than $600 billion in the search for new treatments and cures, including an estimated $51.2 billion in 2014 alone.
SOURCE Pharmaceutical Research and Manufacturers of America