Cardinal Health Names Joseph Papa To Lead Pharmaceutical Technologies And Services Business
DUBLIN, Ohio, Dec. 7 /PRNewswire-FirstCall/ -- Cardinal Health, Inc. , the leading provider of products and services supporting the health care industry, today named Joseph C. Papa, former president and chief operating officer of Watson Pharmaceuticals Inc., as chairman and chief executive officer of its Pharmaceutical Technologies and Services business.
A veteran pharmaceutical-industry executive, Papa, 49, will be responsible for the drug development, formulation, sterile manufacturing, packaging and marketing services Cardinal Health offers pharmaceutical and biotech companies worldwide. Cardinal Health's Pharmaceutical Technologies and Services business generated annual sales of $2.8 billion during fiscal 2004.
"Joe's deep experience with both branded and generic pharmaceuticals, including development, marketing and distribution, make him an ideal leader to grow and expand Cardinal Health's service offerings for pharmaceutical manufacturers and biotech firms worldwide," said George L. Fotiades, president and chief operating officer of Cardinal Health. "Joe brings a passion for the industry and commitment to customers that makes him an exceptional fit for Cardinal Health."
Papa will report to Fotiades, who had previously overseen the Pharmaceutical Technologies and Services business before assuming his current position in February.
Prior to joining Watson in November 2001, Papa was president and chief operating officer for DuPont Pharmaceuticals; president of global country operations-North America for Pharmacia Corp., and president of U.S. operations at Searle Pharmaceuticals, where in 1999 he lead the team that launched the arthritis pain medication Celebrex in the U.S., widely regarded as the most successful new therapy launch at the time. He also has held positions at Novartis Pharmaceuticals Corp., Ciba Geigy Pharmaceuticals and Geneva Pharmaceuticals.
"Cardinal Health is a dynamic company with broad capabilities to serve the health care industry in ways no other company can," said Papa. "I'm energized by the opportunity to lead such a diverse organization and look forward to helping Cardinal Health continue to grow globally, while helping customers bring their products to market faster and more efficiently."
Papa began his career as a pharmacist, having received his Bachelor of Science degree in pharmacy from the University of Connecticut. While earning his Master of Business Administration degree in marketing and finance at Northwestern University's Kellogg Graduate School of Management, he worked as a consulting intern in the health care group of Ernst & Whinney.
About Cardinal Health
Cardinal Health, Inc. ( http://www.cardinalhealth.com/ ) is the leading provider of products and services supporting the health care industry. Cardinal Health develops, manufactures, packages and markets products for patient care; develops drug-delivery technologies; distributes pharmaceuticals, medical, surgical and laboratory supplies; and offers consulting and other services that improve quality and efficiency in health care. Headquartered in Dublin, Ohio, Cardinal Health employs more than 55,000 people on six continents and produces annual revenues of more than $65 billion. Cardinal Health is ranked No. 17 on the 2004 Fortune 500 list and was named one of the best U.S. companies by Forbes magazine for 2004.
Except for historical information, all other information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. The most significant of these uncertainties are described in Cardinal Health's Form 10-K, Form 8-K and Form 10-Q reports (including all amendments to those reports) and exhibits to those reports, and include (but are not limited to) the costs, difficulties, and uncertainties related to the integration of acquired businesses, the loss of one or more key customer or supplier relationships or changes to the terms of those relationships, changes in the distribution patterns or reimbursement rates for health care products and/or services, the results, consequences, effects or timing of any inquiry or investigation by any regulatory authority or any legal and administrative proceedings, the impact of previously announced restatements, and general economic and market conditions. Cardinal Health undertakes no obligation to update or revise any forward-looking statement.Cardinal Health, Inc.
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Web site: http://www.cardinal.com/