Hospira has snagged Allergan President F. Michael Ball as its new CEO. The specialty pharma's current chief and founder, Christopher Begley, will move upstairs to the executive chairman's job. Ball takes the reins March 28.
During 16 years at Allergan, Ball served in a variety of jobs, including executive vice president and president of the pharmaceuticals business. In a release, Hospira says he focused on accelerating Allergan's growth internationally, not only in specialty pharmaceuticals, but in over-the-counter products and surgical devices as well. Best known for its wrinkle-reducer and migraine drug Botox, Allergan also makes the Lap-Band device for obesity surgery, among other products.
The diversity of Allergan's offerings gives Ball some key experience for leading Hospira, Begley said. "With his proven track record of growing complex global businesses, demonstrated success in leading diversified healthcare portfolios and strong commitment to creating value for all company stakeholders, we found the perfect fit with Mike Ball," he adds in a statement.
- see the Hospira release
- get the Wall Street Journal story