Bloomberg News

Bristol-Myers Names Giovanni Caforio President of U.S. Drugs

October 19, 2011

(Updates with closing share price in sixth paragraph.)

Oct. 19 (Bloomberg) -- Bristol-Myers Squibb Co., maker of the blood-thinner Plavix, promoted Giovanni Caforio to president of the U.S. pharmaceuticals business, saying it’s focused on developing talent within the organization.

Caforio most recently was senior vice president of the Oncology and Immunology Global Commercialization business, the New York-based company said today in a statement. Senior vice president Anthony C. Hooper, who previously oversaw the U.S. drugs business, left the company and was appointed executive vice president of Amgen Inc., the Thousand Oaks, California- based company said in a statement.

Bristol-Myers has been developing new medicines and divesting nondrug businesses as it prepares for U.S. competition to the best-selling drug Plavix next year. Its skin-cancer drug, Yervoy, won U.S. approval in March.

Chief Financial Officer Charles Bancroft will also take on new duties heading commercial operations in Japan, Canada, Africa, Latin America, the Middle East, and several other Pacific Rim countries, Bristol-Myers said in its statement. Hooper had led the commercial effort in those countries, said Laura Hortas, a company spokeswoman, in a telephone interview.

Hooper will be executive vice president of global commercial operations, Amgen said.

Bristol-Myers declined less than 1 percent to $32.35 at the close in New York. Amgen rose 4 cents to $57.32.

--Editors: Bruce Rule, Andrew Pollack

To contact the reporter on this story: Robert Langreth in New York at rlangreth@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net


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