Reuters: Regulatory News: UPDATE 1-Bayer names Pfizer's Brandicourt as head of healthcare

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UPDATE 1-Bayer names Pfizer's Brandicourt as head of healthcare Sep 30th 2013, 07:31 Mon Sep 30, 2013 3:31am EDT * To take over from interim head on Nov. 1 * Brandicourt to drive growth from promising new drugs * Has been member of Pfizer executive leadership team FRANKFURT, Sept 30 (Reuters) - Germany's Bayer named Pfizer executive Olivier Brandicourt as the new head of its healthcare division, where he will oversee the market launch of a range of potential blockbusters. He will take over from Bayer Healthcare interim head Wolfgang Plischke on Nov. 1, Germany's largest drugmaker said in a statement on Monday. Brandicourt, who was a member of Pfizer's executive leadership team, will be responsible for taking new drugs to market, including stroke prevention pill Xarelto, eye drug Eylea and cancer treatment Stivarga and to translate successful drug trials into revenue growth. A 30 percent increase in Bayer's shares over the last 12 months shows high expectations that the new drugs will offset an expected decline in sales of its multiple sclerosis drug and some birth control pills, which are hit by rival products. At 0707 GMT, the shares slipped 0.5 percent to 87.06 euros, the STOXX Europe 600 Health Care index edged 0.1 percent lower. CEO Marijn Dekkers has said that while Bayer has been strong in research and development, it needs to do better at marketing its products. The group's five most promising new pharmaceuticals have a combined peak sales potential of more than 5.5 billion euros ($7.45 billion), according to Bayer. The previous head of Bayer Healthcare, Joerg Reinhardt, quit in February to become chairman of Novartis . Link this Share this Digg this Email Reprints

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