Viatris Picks Brand-Recognized R&D Head To Fuel Novel Ambitions
Philippe Martin Familiar To CEO Smith; CFO Sanjeev Narula Also To Step Down
Executive Summary
Viatris CEO Scott Smith is to work alongside an exec from not one but two of his former employers, after Philippe Martin was appointed to head up R&D at the firm and drive its ambitions in the novel space.
Viatris will look to tap the novel brands expertise of Philippe Martin after appointing the former Celgene and Schering-Plough exec as the company’s chief R&D officer with immediate effect, marking yet another step in its recent structural efforts to pivot from off-patent products and move up the value chain to innovative products.
“As chief R&D officer, Martin brings with him significant innovative product development experience across R&D, scientific and regulatory affairs,” Viatris noted, including at Celgene, where he led the development and global registration of the blockbuster drugs Otezla (apremilast) and Zeposia (ozanimod).
Viatris also singled out Martin’s work at Schering-Plough – now a part of Merck & Co – where he “managed the inflammation and immunology franchise, including the anti-TNF alpha collaboration with Centocor/Johnson & Johnson which included the worldwide development, approval, and commercialization of Remicade (infliximab) and Simponi (golimumab).”
Martin, who most recently served as head of development and operations at California-based Conditionally Active Biologic (CAB) therapeutics player BioAtla, said that he had been “thoroughly impressed by the existing R&D expertise and infrastructure I have seen at Viatris that fuels the consistent output of its pipeline, especially as it relates to complex generics.”
“I am excited to add my expertise to this very strong foundation, especially in the innovative product space,” he added.
Martin’s time at Celgene meshed with that of his new CEO, Scott Smith, who joined Viatris in the role on 1 April this year and was also commended for his efforts in the success of Otezla. Later down the line, the pair also worked together at BioAtla. (Also see "Viatris To Bring In Plenty Of Brand Knowledge With New CEO Smith" - Generics Bulletin, 27 Feb, 2023.)
Smith said of Martin: “As we continue our move up the value chain, I expect his significant innovative product experience to play an important role in partnering with me to assess and then execute upon the exciting new product development assets I see ahead, adding to our very strong existing base business and pipeline.”
On the R&D front, Viatris disclosed recently that it remains on track to file a US investigational new drug application by the end of this year for the firm’s proposed biosimilar to the world-renowned Botox (onabotulinumtoxinA) cosmetic and therapeutic brand, in partnership with Revance Therapeutics, ahead of plans to initiate a landmark clinical study program in the first half of 2024. (Also see "Viatris Readies Landmark Botox Biosimilar, Clinical Trial Coming In H1 2024" - Generics Bulletin, 15 Nov, 2023.)
Meanwhile, the company has eight first-to-market opportunities that are currently under regulatory review from within its complex injectable/steriles pipeline, including a generic version of Novo Nordisk’s GLP-1 receptor agonist Wegovy (semaglutide) treatment for obesity, which has captured headlines around the world in 2023.
CFO Narula To Depart In Q1
In tandem with confirmation of Martin’s appointment, Viatris has also announced that its chief financial officer Sanjeev Narula will leave the company on 1 March.
He will be replaced by Doretta Mistras, currently managing director, Healthcare Investment Banking at Citigroup Global Markets and a former longtime holder of the same position at Goldman Sachs.
Narula joined Viatris in November 2020 following the completion of Mylan’s merger with Pfizer’s Upjohn business, having previously spent nearly two decades with Pfizer.
Viatris said that Narula, “who helped the company successfully execute its ‘Phase 1’ strategy,” will work closely with Mistras to support a smooth transition.”
Mistras’s career achievements to date include advising “leading healthcare corporations on a multitude of important financial and strategic decisions, including M&A, joint ventures, and capital market transactions totalling over $240bn in aggregate value,” Viatris noted.
Operation, Exec Shakeup Continues
Viatris recently took a firm step towards the next phase of its strategic roadmap, moving to offload four more businesses, including its six-facility-strong active pharmaceutical ingredients operations in India. (Also see "Viatris Finds A Buyer For India API Business, Other Assets, Ushering In New Era" - Generics Bulletin, 4 Oct, 2023.)
The firm has already closed a major deal, divesting in a $3.35bn agreement with Biocon Biologics the company’s global biosimilars business.
Alongside the overhaul in operations, Viatris has also restructured its senior management team.
Rajiv Malik – the former Matrix Laboratories CEO who was previously president of Mylan, which he first joined in 2007 – is to retire as president of Viatris and as a company executive from 1 April 2024, although he is set to remain on Viatris’ board of directors. (Also see "Malik To Step Down As Viatris President Amid Continuing Strategic Shift" - Generics Bulletin, 23 Oct, 2023.)
Meanwhile, another long serving Mylan executive, Viatris’ executive chairman Robert Coury, is to change role, becoming chairman emeritus and senior strategic advisor to the board and management at the end of 2023. He is expected to serve in this new role until the end of 2025.