Restructures to Create Global Operations, Global Generics Commercial Functions
MORRISTOWN, N.J., Nov 16, 2009 /PRNewswire-FirstCall via COMTEX/ -- Watson Pharmaceuticals (NYSE: WPI) today announced that Robert A. Stewart has joined the Company in the newly created position of Senior Vice President, Global Operations, effective immediately. In this position, Mr. Stewart will have responsibility for global manufacturing, supply chain, quality and technical operations.
The Company also announced that Thomas R. Russillo, Executive Vice President and President of the Generics Division, has been named Executive Vice President, Global Generics and will head the Company's newly formed Global Generics commercial function. In this position, Mr. Russillo will have overall responsibility for generic sales and marketing for the U.S. and Canada, as well for all international markets that will be added to Watson following completion of the acquisition of the Arrow Group. Both Mr. Stewart and Mr. Russillo report to Paul Bisaro, President and Chief Executive Officer of Watson.
"As we prepare to maximize our global footprint following the acquisition of the Arrow Group, we are refining our management structure in ways that will enhance our ability to aggressively capitalize on expanded opportunities," said Bisaro. "Bob brings more than 20 years of experience in global pharmaceutical supply chain management, including experience in all aspects of quality and manufacturing management, in addition to broad experience with APIs and solid, semi-solid, biologics, sterile and liquid dosage forms. By centralizing all quality and supply chain functions under his leadership, we can ensure that we more effectively continue to pursue additional cost and operational efficiencies under our Global Supply Chain Initiative and Operational Excellence programs. In addition, Bob's extensive international experience will help us maximize the increased international capabilities we gain following the closing of the Arrow acquisition."
"Tom assumes a critical role in our evolving corporate structure for managing our global generic sales and marketing and commercial functions," Bisaro continued. "By creating this Global Generics commercial structure, we will look to Tom to develop the strategies that will strengthen and grow Watson's and Arrow's current product portfolios and market positions around the world. He will also have responsibility for ensuring that our commercial needs are appropriately aligned with new product R&D and that Watson efficiently expands its generics position with key product introductions across the 20 countries in which we will operate, including established, expanding and emerging markets."
Mr. Stewart joins Watson following an eight year career at Abbott Laboratories, where he most recently served as Divisional Vice President, Global Supply Chain. From 2005 until 2008 he served as Divisional Vice President, Quality Assurance. Prior to this position, Mr. Stewart was Abbott's Divisional Vice President for US/ Puerto Rico and Latin America Plant Operations, as well as Director of Operations for Abbott's Whippany plant. Prior to Abbott, he worked for Knoll Pharmaceutical Company and Hoffman La-Roche Inc.
Mr. Russillo was appointed Executive Vice President and President of the Generics Division in 2006. Prior to joining Watson, he served as a consultant to the Company in connection with the Company's integration planning related to the acquisition of Andrx. From January 2005 until September 2006 Mr. Russillo served as a consultant to various clients in the pharmaceutical industry. From 1990 through 2004, he was President of Ben Venue Laboratories, a division of Boehringer Ingelheim. Prior to Ben Venue, he held a number of senior positions with Baxter International.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a leading global specialty pharmaceutical company. The Company is engaged in the development, manufacturing, marketing and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on Urology and Women's Health.
For press releases and other company information, visit the Watson website at http://www.watson.com.
Any statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Watson's current perspective of existing trends and information as of the date of this release. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Watson's current expectations depending upon a number of factors affecting Watson's business. These factors include, among others, the impact of competitive products and pricing; market acceptance of and continued demand for Watson's products; difficulties or delays in manufacturing; and other risks and uncertainties detailed in Watson's periodic public filings with the Securities and Exchange Commission, including but not limited to Watson's Quarterly Report on Form 10-Q for the period ended June 30, 2009.
SOURCE Watson Pharmaceuticals, Inc.