echemi logo
  • Product
  • Supplier
  • Inquiry
    Home > Medical News > Latest Medical News > In October, Merck and Novartis executives "flowed to each other", Hengrui and Qilu management changed, and Yongtai Biotech was suspended...

    In October, Merck and Novartis executives "flowed to each other", Hengrui and Qilu management changed, and Yongtai Biotech was suspended...

    • Last Update: 2022-11-14
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit
    In October 2022, personnel turmoil in the pharmaceutical industry continued
    What has attracted much attention in the industry is the
    "mutual flow"
    of executives between MNCs.
    Following Yan Qiong's departure from Novartis to join Menarini, Tian Yu returned to his old club Novartis from Merck, and then Merck officially announced
    Brecht Vanneste to take over Tian Yu
    In addition
    , many domestic and foreign pharmaceutical companies, including GSK, Hengrui Pharmaceutical, Qilu Pharmaceutical, etc.
    , have successively announced personnel changes

    In the upcoming October, in addition to the intensive personnel changes, the pharmaceutical market is still not calm
    On October 31, Yongtai Biotech announced that trading
    of the company's shares will be temporarily suspended from 9 a.
    on October 31, 2022.
    According to public information, on July 10, 2020, Yongtai Biologics, the "first stock of cell immunotherapy", was officially listed on the main board of the Hong Kong Stock Exchange, raising HK$
    1 billion.

    It is understood that Yongtai Biotech's core product EAL® is in the middle and late stages of research and development, and has high technical barriers, and the company is taking a series of commercialization actions, which is expected to become a long-term driving force
    for future performance growth.

    At present, Yongtai Biotech has no main revenue and is in a state of
    For the half year ended June 30, 2021, the company's loss narrowed to $147 million, compared to a loss of $174 million
    in the same period last year.
    The reason for the suspension of Yongtai Biologics is to be announced

    The Hong Kong stock market is the market with the largest concentration of innovative pharmaceutical companies in China, and it is also one of
    our most noteworthy markets.
    In the eyes of industry personnel, while paying attention to the investment opportunities of innovative drugs, it is also necessary to pay attention to the delisting risk of innovative pharmaceutical companies, and cash on the account is the key to maintaining the listing of

    Looking back on October, what major events have happened in pharmaceutical companies at home and abroad? Let's
    take stock together.

    Multinational pharmaceutical company

    Merck changed the head

    On October 26, Merck's official website announced that the company's current CEO Robert Davis will replace Fovitzer as chairman of
    the board.
    The appointment will take effect
    on 1 December.

    Furvitzer joined Merck around 1992 and became CEO and Chairman of Merck in 2011, leading the company into immunotherapy
    Under his leadership, Merck launched star drugs
    such as KEYTRUDA (K Medicine) and Gardasil (Gardasil).
    During his tenure, K surpassed Bristol-Myers Squibb's Opdivo to become the world's best-selling cancer immunotherapy

    In 2014, Furwitzer hired Davis from Baxter to serve as CFO
    of Merck.
    In April 2021, Davis became president of
    On June 30, 2021, Davis succeeded Fowitzer as CEO

    This time, Fowitzer announced his retirement, and Davis took over again
    With K drug expected to lose patent protection by the end of 2028, the industry is full of expectations
    for whether the new chairman can continue Merck's glory.

    Novartis executive Yan Qiong joins Menarini China CEO

    Recently, Zhang Ying, President and Managing Director of Novartis Innovative Drugs China, announced to employees a management appointment that Yan Qiong, Head of Immunotherapy at Novartis Innovative Drugs China, will leave Novartis to pursue external development opportunities, and the last working day is October 31
    , 2022.

    At the same time, Novartis announced that Tian Yu will return to Novartis from Merck, and after Yan Qiong's departure, Tian Yu will join Novartis from November 10 to take over the position of
    head of immunotherapy field of Novartis Innovative Drugs in China.

    It is reported that after Yan Qiong leaves Novartis, she will become the CEO of Menarini China, replacing Dong Minsheng, based in Shanghai, and reporting directly to Maurizio Luongo
    , CEO of Menarini Asia-Pacific.

    Executives "flowed to each other", and Tian Yu returned to his old club Novartis

    In July 2020, Tian Yu, who served as the head of Novartis Oncology (China) Solid Oncology Business Unit, announced her departure from Novartis to seek external development opportunities
    A few days later, Merck announced that from July 27, 2020, Tian Yu will serve as the head of
    Merck's China Oncology Business Unit.

    Recently, Merck announced that Tian Yu, head of the oncology department, decided to leave Merck China
    Novartis has since announced that Tian Yu will join Novartis on November 10, 2022 as the head of
    immunotherapy for Novartis Innovative Drugs in China.
    Become a member of Novartis Innovative Drugs China's management team, based in Shanghai, and report directly to Zhang Ying
    , President of Novartis Innovative Drugs China.

    Following Tian Yu's departure, Merck China announced that Brecht Vanneste, the current Managing Director of Merck Belgium and Luxembourg, will take over as Head of Merck China's Oncology Business Unit, effective October 24
    , 2022.
    Brecht Vanneste will be based in Shanghai and will report
    directly to Anna Tian, President of Merck China.

    Changes in the management of GSK's pharmaceutical and vaccine businesses

    GSK is planning to integrate its pharmaceutical and vaccine businesses, as well as corresponding commercial operations

    On October 25, local time, a number of foreign media reported that Roger Connor, president of GSK Vaccines and Global Health, was about to leave
    Roger has 25 years of experience working in vaccines and was appointed President of
    GSK Vaccines in 2018.
    In addition to leading the company's vaccines business, he led GSK's Global Health organisation and Global Sourcing organisation
    in 2021.
    In addition, he was responsible for GSK's global pharmaceutical and consumer healthcare manufacturing organization
    from 2013 to 2018.

    At the same time as Roger's departure, GSK also made changes to some executives:

    Chief Commercial Officer Luke Miels will have overall responsibility for strategic commercial product development for vaccines (in collaboration with R&D and supply), while continuing to be responsible for strategic product development and commercialization
    of product portfolios for specialty and general drugs.

    RIgis Simard, President of Global Supply Chain, is responsible for the supply
    of vaccines and pharmaceuticals.

    Deborah Waterhouse, CEO of ViiV Healthcare, will have overall responsibility for GSK Global Health

    Local pharmaceutical companies

    Former Hengrui CEO Tao Weikang joined Qilu Pharmaceutical

    On October 10, Tao Weikang, former deputy general manager and R&D CEO of Hengrui Pharmaceutical, joined Qilu Pharmaceutical and will become an important member of the global innovative R&D system management team of Qilu Pharmaceutical Group, serving as the vice president of the group and the general manager of Qilu global innovative drug R&D, fully leading the research and development of Qilu global innovative drugs, formulating and implementing innovative drug research and development strategies, and participating in the planning and implementation
    of the company's innovative drug R&D development strategy.

    In recent years, Qilu Pharmaceutical has been actively innovating and transforming
    from API export to preparation export, from head generic drug companies to the first echelon of innovative pharmaceutical companies.
    Qilu Pharmaceutical currently has more than 80 innovative drug projects under development, and in 2021, Qilu Pharmaceutical submitted the application
    of 9 macromolecular new drugs.
    In 2021, Qilu Pharmaceutical's annual R&D investment reached 3.
    32 billion yuan, accounting for nearly 10% of
    its revenue.
    The addition of Tao Weikang adds new strength
    to its innovation and transformation.

    Hengrui Pharmaceutical's innovation and R&D ushered in the core leadership force

    On October 10, Hengrui Pharmaceutical issued an announcement that He Feng was appointed as the deputy general manager
    of Hengrui Pharmaceutical.
    According to insiders of Hengrui Pharmaceutical, in the future, Dr.
    He Feng will undertake the new drug R&D and R&D management of Shanghai Hengrui R&D Center, become the core leading force in the field of innovation and R&D of Hengrui Pharmaceutical, and provide advice
    for promoting the company's R&D and upgrading.

    According to the company's latest announcement, the repurchase of 12 million shares for the company's 2022 employee stock ownership plan has been completed, and the employee stock ownership plan with the innovative drug business as the assessment target has been smoothly promoted

    Another CEO of Ridge Pharma left and served for only 1 year and 3 months

    On October 20, Ridge Pharma issued an announcement that its CEO Hua Fengmao resigned due to personal reasons, which was only 1 year and 3 months
    after Hua Fengmao took office.

    In the first half of this year, in order to optimize the company's asset and liability structure and ease the company's financial pressure, the subsidiary Shanghai Ridge transferred 100% of its equity in Kaihui Pharmaceutical to Porton at a price of 266 million yuan, transferred 100% of the equity of Quantum Hi-Tech to Taylor's company, and transferred 100% of the equity of Quantum Jiangmen to Jiangmen Hefeng.

    According to its financial report, Ridge Pharma achieved total operating income of 1.
    032 billion yuan in the first three quarters of this year, a year-on-year decrease of 18.
    2%, and operating cash flow decreased from 262 million yuan to -64 million yuan, a year-on-year decrease of 124.

    Shapuaisi Pharmaceutical's securities representative resigned

    On October 11, Shapuaisi Pharmaceutical issued an announcement that the board of directors of Zhejiang Shapuaisi Pharmaceutical Co.
    , Ltd.
    (hereinafter referred to as the "Company") recently received the resignation report
    of Ms.
    Li Yue, the company's securities affairs representative.

    Li Yue resigned as the company's securities affairs representative for personal reasons and no longer held any position
    in the company after her resignation.
    In accordance with the relevant provisions of the Company Law, the Articles of Association and other relevant provisions, Ms.
    Li Yue's resignation report shall take effect
    from the date of delivery to the Board of Directors.

    The vice president of Yifan Pharmaceutical resigned for less than one year

    On October 10, Yifan Pharmaceutical issued an announcement that the board of directors of Yifan Pharmaceutical Co.
    , Ltd.
    (hereinafter referred to as the "Company") recently received a written resignation report
    from Mr.
    Wang Jie, vice president.
    For the reason for leaving in less than half a year, Yifan Pharmaceutical responded to the media that there is a certain run-in problem
    between the two sides.

    After reaching consensus with the company, Mr.
    Wang Jie applied to resign from the position of vice president of the company, and after resignation, he will not hold any position
    in the company and its subsidiaries.

    This article is an English version of an article which is originally in the Chinese language on and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to with relevant evidence.