Tuesday, Mar 9, 2004
South San Francisco, Calif. -- March 9, 2004 --As part of its Horizon 2010 long term strategy, Genentech, Inc. (NYSE: DNA) today announced organizational changes in the Development, Commercial and Manufacturing functions. The new structure is designed to position the company's leadership for future success and ongoing innovation and performance.
Effective today, Susan D. Hellmann, M.D., M.P.H., has been promoted to the role of president of Product Development. Hellmann has been with Genentech since 1995, joining the company as a clinical scientist and becoming chief medical officer in 1996. She was named executive vice president, Development and Product Operations in September 1999. In the new role she will continue to oversee Genentech's Development, Regulatory Affairs, Compliance, Product Portfolio Management and Quality functions. In addition, Business Development and a new function, Strategic Pipeline Development will report to Hellmann under the leadership of Joseph McCracken, vice president of Business Development. Under her leadership the company has developed and obtained numerous U.S. Food and Drug Administration (FDA) approvals including three in the past nine months for Xolair® (Omalizumab) for asthma, Raptiva (efalizumab) for psoriasis and Avastin (bevacizumab) for colorectal cancer. Hellmann was named to the U.S. Department of Health and Human Services Advisory Committee on Regulatory Reform in 2001 and to the Board of Directors of the Biotechnology Industry Organization in 2002. Concurrent with her new role, Hal Barron, M.D., senior vice president of Development, will become chief medical officer. Hellmann will continue as a member of the company's Executive Committee.
Myrtle Potter is being promoted to president of Commercial Operations. In this role she will continue to lead Genentech's Commercial Operations, including Sales, Marketing, Managed Care, Commercial Development and the Dedicated Support for Commercial Operations functions. Potter joined Genentech in 2000 as executive vice president and chief operating officer and has overseen the successful launch of six new products including TNKase (Tenecteplase), Cathflo® Activase® (Alteplase), Nutropin AQ Pen, Xolair, Raptiva and Avastin. In addition, Genentech's product revenue stream has grown more than two-fold under her leadership. In 2002, Potter was named to the Board of Directors of the California Healthcare Institute where she is president-elect for 2005. The company will no longer use the chief operating officer title. Potter will also remain a member of the company's Executive Committee.
In 2003 Potter and Hellmann were both named to Fortune's list of "50 Most Powerful Women" in corporate America. Both Hellmann and Potter will continue to co-chair Genentech's Product Portfolio Committee, providing strategic and financial oversight of the Company's drug development portfolio.
"We are pleased to recognize Susan's and Myrtle's accomplishments with these promotions", said Genentech Chairman and Chief Executive Officer Arthur D. Levinson, Ph.D. "They both have made tremendous contributions to the success that the company is currently enjoying and we look forward to achieving our Horizon 2010 vision with the leadership strength that each of them will bring to the overall corporation as well as their individual functions".
David Ebersman, senior vice president of Product Operations will become a member of the Executive Committee and report directly to Chief Executive Officer Arthur Levinson. Ebersman will continue to lead Global Manufacturing, Facilities, Engineering and Supply Chain Management. He has been with Genentech since 1994 and previously held several positions in Business and Product Development. David was named senior director of Product Development in 1998, vice president in 1999 and senior vice president in 2001.
As mentioned previously, Hal Barron, in addition to his role as senior vice president of Development, will become the chief medical officer. Barron joined Genentech in 1996 as a clinical scientist. During the next several years, he held positions as associate director and director of Cardiovascular Research and senior director of the Biotherapeutics group within Medical Affairs. In May 2002, he was promoted to vice president of Medical Affairs. In his new role, Barron will continue reporting to Hellmann and will lead the newly formed Development organization that was created by combining Genentech's Medical Affairs and Development Sciences departments. The Development organization will be responsible for pre-clinical, clinical, and post-approval activities.
Also as mentioned, Joseph McCracken, vice president of Business Development will take on additional responsibilities for a newly created function, Strategic Pipeline Development and will report to Sue Hellmann. In addition to managing Business Development, McCracken will build and lead a team that will be charged with providing strategic guidance on the expansion of the company's pipeline. McCracken rejoined Genentech in 2000 after a seven year absence during which time he worked in science and business development in biotechnology and pharmaceutical companies.
Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes biotherapeutics for significant unmet medical needs. Eighteen of the currently approved biotechnology products originated from or are based on Genentech science. Genentech manufactures and commercializes 13 biotechnology products directly in the United States. The company has headquarters in South San Francisco, California and is traded on the New York Stock Exchange under the symbol DNA. For press releases and additional information about the company, please visit http://www.gene.com.