Japan's Daiichi Sankyo has decided to make some leadership changes at the top of its U.S. operations. The company said today that Glenn Gormley has been named corporate president and chairman of Daiichi Sankyo Inc. He takes over the president role from John Gargiulo, who's out as of yesterday. The company did not give a reason for the departure of Gargiulo, who had been president, CEO and head of Daiichi's commercial division.
Gormley, who is both an M.D. and a Ph.D., continues in his multiple roles as president of Daiichi Sankyo pharma development, global head of research and development and senior executive officer of Daiichi Sankyo. The company has made Greg Barrett the acting head of the commercial division of U.S. operations, which are headquartered in Parsippany, NJ. Barrett, who had been vice president of marketing and managed markets, will now have control over marketing, sales and supply chain operations in the U.S.
The U.S. is a significant part of Daiichi Sankyo market, making up about 22% of its total revenues last year. The company reported sales of ¥182 billion ($1.9 billion) up slightly from the $1.8 billion the year before. The company as a whole reported sales of ¥812 billion ($8.4 billion) in 2012.
A spokeswoman for Daiichi's U.S. operations said Gargiulo left by mutual agreement.
The company has had some issues in the U.S. It was hit with a gender discrimination lawsuit in February by 6 female sales reps who wanted their case to be a class action. They are seeking $100 million in damages. The company in April decided to jettison an alliance with Woburn, MA-based ArQule ($ARQL) for an early-stage AKT inhibitor.
Daiichi Sankyo Group also is facing big issues with the recent import ban placed on Ranbaxy Laboratories by the FDA. The Japanese drugmaker controls the Indian generics company. With the most recent ban, all three of Ranbaxy's plants that had been approved for U.S. sales are banned from exporting to the U.S. Ranbaxy is a separate company, however.
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