Actelion takeout, COVID-19 vaccine among Gorsky’s J&J highlights as he readies to hand CEO job to Duato
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Joaquin Duato will succeed Alex Gorsky as CEO of Johnson & Johnson (NYSE:JNJ), effective Jan. 3, capping a 10-year run for Gorsky as chairman and CEO that saw the company complete its largest-ever takeout, developed vaccines during a pandemic and beef up its commitment to cancer research. Gorsky, who has been with J&J for 30 years, will become executive chairman. Duato, who is vice chairman of the company’s executive committee, will take a seat on the company’s board.
According to the company, J&J dramatically increased its R&D spend in oncology during Gorsky’s time at the top, growing it from $2 billion in 2011 to more than $12 billion in 2020. J&J also completed the largest acquisition in its 134-year history when the pharma bought Actelion for $30 billion. More recently, he guided the company in its response to COVID-19, putting J&J among the companies who developing vaccines at a speed previously unknown in the industry...