Gilead exec jumps ship to head up Glenmark's new innovation unit

7 March 2019

Indian drugmaker Glenmark Pharmaceuticals (BSE: 532296) has announced that Alessandro Riva will join its new innovation company as chief executive. The appointment is effective April 2, 2019.

Dr Riva is currently executive vice president, oncology therapeutics and cell therapy for Gilead Sciences (Nasdaq: GILD), leaving the US biotech major’s new CEO Daniel O’Day, who took on the post only days ago, with a key commercial position to fill.

Glenmark announced on February 14, 2019, the in-principle approval from its board of directors to spin off the innovation business into a new company headquartered in the USA. The new company will be a wholly-owned subsidiary of Glenmark and will operate with Dr Riva as the CEO, a management team and an independent board of directors.

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