Prognosis
Sanofi Taps Novartis Executive as CEO in Race for New Drugs
- Hudson led Swiss drugmaker’s pharmaceuticals unit since 2016
- Brandicourt to step down from Sanofi after taking over in 2015
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Sanofi poached a top manager from Novartis AG in a bid to accelerate delivery of new blockbuster drugs to the market and catch up with competitors in the lucrative cancer field.
Bringing in Paul Hudson as its next chief executive officer will help the French pharma giant bolster its pipeline of medicines and deal with growing U.S. pressure on drug prices. The 51-year-old British executive will take over in September from Olivier Brandicourt, 63, who’s retiring. The shares rose as much as 6% in Paris trading, the biggest intraday increase since October, 2016.