Former Genentech product manager Teresa Graham has been named CEO of Roche's pharmaceuticals business and Chief Medical Officer Dr. Levi Garraway has been added as a member of an enlarged corporate executive committee.
is a great leader with strong followership," Schinecker said in a statement."She brings strategic and scientific acumen with an excellent track record of performance."
Garraway, 54, was named chief medical officer of Roche and Genentech in October 2019. He had been director of the Joint Center for Cancer Precision Medicine in Boston and taught at Dana-Farber Cancer Institute, Harvard Medical School and the Broad Institute of MIT. Graham, Garraway and Schinecker assume their new posts as Roche finds itself in the odd position of negative results from a handful of clinical trials, declining Covid-19 product revenue and anticipated sales losses due to competition from lookalike, lower-cost biosimilar drugs.
In pharma, where Actemra has been used for hospitalized Covid patients, and through Roche's diagnostics business, which has played a critical role in testing for the viral disease, Roche expects to lose the equivalent of $5.5 billion, or 8% of its overall 2022 sales,Meanwhile, biosimilar competition is expected to eat away the equivalent of about $2 billion in 2023, particularly from Rituxan and the Genentech-developed cancer drugs Avastin and Herceptin.
Replacements for those drugs have had trouble showing success in clinical trials, including the experimental Alzheimer's Disease drug gantenerumab and the lung cancer drug tiragolumab."We achieved good results in 2022, even though the demand for Covid-19 products declined, as expected," outgoing Roche CEO
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WWE legend ‘Superstar’ Billy Graham lost 45 pounds in three weeks in health emergencyWWE Hall of Famer “Superstar” Billy Graham, 79, has been hospitalized for weeks, suffering a cardiac episode and losing 45 pounds.
Read more »
Ashley Graham's Buckled Platforms Come With a Staggering 8.5-Inch HeelAshley Graham stepped out in wild platform pumps for the Marc Jacobs spring 2023 show in NYC.
Read more »
Franklin Graham Decries Church Capitulation on Homosexuality, AbortionProminent Evangelical pastor Franklin Graham has denounced the abandonment of Biblical morality on human life and sexuality by many churches in recent times.
Read more »
Union boss Sharon Graham calls on Sunak to intervene on NHS paySharon Graham urged the PM to break the deadlock ahead of the biggest week of strikes in NHS history.
Read more »
Eagles lineman Brandon Graham fined more than Trent Williams for unnecessary roughness in NFC championshipPhiladelphia Eagles defensive lineman Brandon Graham caught the ire of the NFL on Saturday. Graham was reportedly fined $13,261 for unnecessary roughness in the NFC championship game against the San Francisco 49ers, according to Tom Pelissero of NFL Network.
Read more »
RHONJ: Dolores Catania 'Wasn't Surprised' Teresa Giudice Didn't Ask Melissa Gorga to Be in Wedding - E! OnlineReal Housewives of New Jersey's Dolores Catania weighed in on the ongoing feud between Teresa Giudice and Melissa Gorga. Plus, why she's slamming the season 13 cheating rumors about Melissa.
Read more »