Two months after J&J CEO Alex Gorsky announced plans to step down, Chief Scientific Officer Paul Stoffels will retire from the life sciences giant at the end of the year.
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Two months after Johnson & Johnson Chief Executive Officer Alex Gorsky announced plans to step down, another top executive has announced his departure. Chief Scientific Officer Paul Stoffels, M.D., will retire from the life sciences giant at the end of the year.
Stoffels, who also served as vice chairman of the executive committee, has helmed the company’s research and development programs to create life-saving treatments for multiple disease conditions. Under his guidance, the company and its subsidiaries have compiled one of the most robust pipelines across the biopharma industry. Additionally, he has been instrumental in creating a global network of innovation partners to tackle some of the most challenging diseases facing the world, including COVID-19. Stoffels spearheaded the development of the company’s single-shot vaccine for COVID-19.
Stoffels said it had been both an honor and privilege to guide Johnson & Johnson’s “innovation agenda” and help bring many medications to market.
“As a physician and a scientist, it is gratifying to see the healthcare landscape transformed as we unlock the best science and technology to deliver innovative medicines to solve the world’s toughest health challenges. As I reflect on the work of our talented and dedicated teams around the world, I am proud of the impact we have made and confident that our vibrant community of world-leading scientists and engineers will position our company for continued success,” Stoffels said in a statement.
Stoffels played a key role in guiding the development of new medications at J&J. He also established the Johnson & Johnson Innovation, a network of partnerships, start-up incubators, and investment capabilities that have helped transform the industry’s landscape. In the JLABS incubation program, more than 700 start-up companies are operating across the globe. JLABS is part of Johnson & Johnson’s external R&D arm. according to the JLABS website, the program provides a “capital-efficient, resource-rich environment where emerging companies can transform the scientific discoveries of today into the breakthrough healthcare products of tomorrow.”
Stoffels first joined Janssen Pharmaceuticals in the 1990s with a focus on HIV and tropical diseases. He left the company for a short time but returned in 2002 following the acquisitions of Tibotec-Virco in 2002, where Stoffels had taken a role to lead development on HIV programs. Under Stoffels, J&J has become a leader in HIV therapeutics and has helped transform the treatment paradigm for this disease. What was once a virtual death sentence has now become a manageable condition. After returning to J&J, he held various leadership roles, including global head of pharmaceutical research and development and worldwide chairman of pharmaceuticals. He was named CSO of the company in 2012.
Since taking over R&D at the company, J&J’s revenue stream for pharmaceuticals has grown to more than $45 billion. The company has become a key player in oncology and auto-immune diseases. Under his guidance, the company has developed more than 25 approved therapies across multiple indications.
Not only did Stoffels oversee the development of therapeutics, he also played a role in developing external partnerships and acquiring new companies, including Crucell and Actelion.
Gorsky touted the accomplishments of Stoffels during his tenure at J&J. He said Stoffels has a strong commitment to developing treatments that can both improve and save the lives of people across the globe. Outside of his accomplishments as CSO, Gorsky said Stoffels is an exceptional person who inspires those around him.
“Together with the senior Johnson & Johnson R&D leaders of the R&D Management Committee, Paul created a culture of people development, sponsorship, entrepreneurial leadership, developing generations of new talented leaders for Johnson & Johnson,” Gorsky said in a statement.
Joaquin Duato, vice chairman of the executive committee and next CEO of J&J, also praised Stoffels. He said Stoffels enabled Janssen to rejuvenate its clinical pipeline and change the lives of millions of people across the world with multiple new medications, seven of which have been added to the World Health Organization’s Essential Medicines List.
In addition to his role at J&J, Stoffels has worked alongside global health organizations, including the Bill & Melinda Gates Foundation, the National Institutes of Health, the European Commission’s Innovative Medicines Initiative, and the World Health Organization, to advance global health policy recommendations.
A replacement for Stoffels has yet to be named.
Stoffels said he looks forward to working with J&J’s leadership to ensure a smooth transition for the company’s R&D and innovation teams.
“With a strong pipeline of passionate leaders, our teams will continue to focus on the most significant unmet medical needs, identify the best ideas— wherever they are in the world, and use our industry-leading capabilities to transform those ideas into solutions that deliver years of life and quality of life for people all over the world,” Stoffels said in a statement.
