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Barrett joins pharma exodus for biotech

December 20, 2018 11:06 PM UTC

Novartis AG (NYSE:NVS; SIX:NOVN) named its third CEO of oncology in 11 months as Elizabeth Barrett joins the exodus of pharma leaders heading to biotech. Barrett said she will become CEO of an undisclosed U.S.-based biotech.

Susanne Schaffert will take the reins as CEO of Novartis Oncology on Jan. 1, less than a year since Barrett left Pfizer Inc. (NYSE:PFE) to fill the role. Barrett replaced Bruno Strigini who retired after serving as the division's inaugural CEO. The role was created when Novartis Oncology split from the rest of Novartis' pharmaceutical division in May 2016 (see "Epstein Leaving Novartis Amid Pharma Reorganization")...

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