Watson Pharmaceuticals Inc. (WPI:US), the second-biggest U.S. seller of generic drugs, hired Mark W. Durand from rival generic-drug maker Teva Pharmaceutical Industries Ltd. (TEVA) as chief financial officer.
Durand, 48, was North American finance chief for Petah Tikva, Israel-based Teva, the world's biggest maker of generic medicines, Watson said today in a statement. He succeeds Charles P. Slacik, who left Watson for Beckman Coulter Inc., a maker of medical diagnostic tests, in October 2006.
Watson has brought in top executives from the industry to help ignite growth after its $1.9 billion purchase of Andrx Corp., a generic-drug and distribution business, last November. The company hired Paul Bisaro, the president and chief operating officer of Barr Pharmaceuticals Inc., as its new chief executive officer on Sept. 4.
Durand has experience with business development and played an integral role in Teva's integration of Ivax Corp. after it was acquired last year, Corona, California-based Watson said in the statement. Mylan Inc. (MYL:US), based in Canonsburg, Pennsylvania, is the largest U.S. maker of generic drugs, based on 2006 sales, according to data compiled by research firm IMS Health Inc.
To contact the reporter on this story: Catherine Larkin in Washington at firstname.lastname@example.org.
To contact the editor responsible for this story: Reg Gale at email@example.com.