Johnson & Johnson has named Tom Cavanaugh as the next leader of its innovative medicines business, beginning Sept. 1, 2026.
Jennifer Taubert, 62, the current worldwide chair of J&J Innovative Medicine, will retire after a more than 21-year tenure at the company, J&J announced Tuesday.
Taubert joined J&J’s executive committee in 2018 when she was elevated from leading the pharmaceuticals unit’s operations in the Americas to heading up the entire department, just as her predecessor Joaquin Duato moved up to become then-CEO Alex Gorsky’s right hand. She was named one of the Fiercest Women in Life Sciences in 2019.
Taubert naturally adopted her current title when the Big Pharma rebranded Janssen into J&J Innovative Medicine in September 2023.
Under Taubert’s leadership, J&J’s drugs business saw revenues swell from $40.7 billion for full-year 2018 to $31.8 billion for the first half of 2026 alone.
“Jennifer has made an extraordinary impact on patients, our business, and generations of leaders across our Company,” Duato, now chairman and CEO of J&J, said in an Aug. 4 statement. “Her vision, leadership, unwavering commitment to healthcare innovation, and passion for talent development helped define an era of growth and position us for future success.”
Cavanaugh, a 15-year Celgene veteran, joined J&J in 2017, initially as president of U.S. oncology and later as president of U.S. immunology before moving to chair the innovative medicine department’s North America business last year.
“I am confident his deep understanding of our business, proven track record of growth, and focus on developing people will ensure we are poised to continue to deliver for patients, healthcare systems, and our company,” Duato said of Cavanaugh in a statement.
Cavanaugh is inheriting a franchise that’s leading the print for J&J on the whole, with growth driven by immunology drug Tremfya, depression therapy Spravato and the company's multiple myeloma portfolio, including Darzalex, Legend Biotech-partnered Carvykti, and the T-cell engagers Tecvayli and Talvey.
The company is also building momentum behind the recent launch of Icotyde, a game-changing psoriasis pill partnered with Protagonist Therapeutics that Duato has said could become one of J&J’s “largest products ever.”
Coincidentally, the announcement of Taubert’s retirement comes just a week after Legend’s CEO, Ying Huang, Ph.D., abruptly resigned. Before that, Taubert’s comment on J&J’s second-quarter earnings call stating that its Tecvayli-Darzalex combo holds “the potential for cure” contributed to a 10% stock price decline at its Carvykti partner.