Global healthcare giant Covidien has appointed Mark Trudeau, currently CEO of Bayer Healthcare, as the President of its new pharmaceuticals business.
Trudeau, who has also been appointed a senior VP of Covidien, will lead the company’s pharma segment in its development as a separate US company with a new name.
He succeeds Matthew K. Harbaugh, Chief Financial Officer for Pharmaceuticals, who has been interim President since November 2010 and will continue as CFO of the business.
Covidien’s pharma business is a leading supplier of generics, opioid pain medications and bulk paracetamol, and is expected to focus on the growing pain management drug market.
With a US background and 25 years’ experience in the pharma industry, Trudeau is President and CEO of Bayer Healthcare, and also of Bayer Healthcare Pharmaceuticals US Region. He was formerly interim President of Bayer’s Specialty Medicine Global Business Unit.
Trudeau worked at Eli Lilly and Abbott Laboratories before joining Bristol-Myers Squibb, where he served in a number of marketing and regional management roles before becoming a Senior VP and General Manager of the BMS Immunology Division.
“Mark has an impressive track record of success in the pharmaceuticals industry, including valuable experience outside the US,” said José E. Almeida, President and CEO of Covidien. “We are delighted he is joining Covidien to lead the Pharmaceuticals segment, where he will play a critical role in fulfilling our vision of delivering unmatched value to our customers.”
Based in Dublin, Ireland, Covidien is a leading global supplier of pharmaceuticals, medical devices and medical supplies. In December 2011 the company announced plans to spin off its pharma business into a stand-alone public company via distribution of stock to its US shareholders. The transition is expected to be complete within 18 months.
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