DUBLIN--()--Covidien plc (NYSE:COV), a leading global provider of healthcare products, today announced the appointment of Mark Trudeau as president of its Pharmaceuticals segment and a senior vice president of the Company, effective February 1.
Covidien is one of the world’s largest producers of bulk acetaminophen, the largest U.S. supplier of opioid pain medications and among the top 10 generic drug manufacturers in the U.S. The Company secured U.S. Food and Drug Administration approval of eight new pharmaceutical products since 2008, among which were two branded pain products launched in 2010.
In addition, the Company is one of the world’s leading suppliers of generators used to produce technetium-99, a critical diagnostic medical isotope. It also is the only manufacturer that offers a fully integrated system of diagnostic contrast media in prefilled syringes and injectors.
“Mark has an impressive track record of success in the pharmaceuticals industry, including valuable experience outside the U.S. We are delighted he is joining Covidien to lead the Pharmaceuticals segment, where he will play a critical role in fulfilling our vision of delivering unmatched value to our customers,” said José E. Almeida, president and chief executive officer.
A 25-year pharmaceuticals industry veteran, Trudeau is president and chief executive officer of Bayer Healthcare, LLC. He also serves as president and chief executive officer of Bayer Healthcare Pharmaceuticals US Region, a $2.5 billion business focused on women’s healthcare, oncology, neurology, hematology, diagnostic imaging and general medicine. Additionally, Trudeau is the lead executive sponsor of Bayer’s women’s leadership initiative and its diversity and inclusion activities. Previously, while serving in these executive roles, he also headed Bayer’s Specialty Medicine Global Business Unit as interim president.
Prior to joining Bayer, Trudeau served as senior vice president and general manager of the Bristol-Myers Squibb Immunology Division. Previous positions at Bristol-Myers Squibb included posts in marketing and assignments leading the company’s regional operations. These posts included regional president, Asia-Pacific, based in Singapore; president, Canadian Operations, headquartered in Montreal; and managing director and general manager, United Kingdom Operations, based in London.
After earning a Bachelor of Science degree in chemical engineering from the University of Michigan, Trudeau began his career at Eli Lilly & Co., followed by positions of increasing responsibility at E. I. du Pont de Nemours and Company and Abbott Laboratories. He holds an MBA degree from the University of Michigan. Trudeau currently serves on the Board of Directors of the Pharmaceutical Research and Manufacturers of America and the Board of Trustees of HealthCare Institute of New Jersey. He also served on the Board of Directors of the National Pharmaceutical Council from 2008-2010.
Trudeau succeeds Matthew K. Harbaugh, chief financial officer, Pharmaceuticals, who has served as interim president since November 2010, when former Pharmaceuticals president Timothy R. Wright resigned. Harbaugh will continue as chief financial officer of the business.
On December 15, 2011, the Company announced that it plans to spin off its pharmaceuticals business into a standalone public company. It anticipates that the transaction will be in the form of a distribution that will be tax-free to U.S. shareholders of a new publicly traded stock in the new pharmaceuticals company. Covidien currently expects that completion of the transaction could take up to 18 months.
About Covidien
Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2011 revenue of $11.6 billion, Covidien has 41,000 employees worldwide in more than 65 countries, and its products are sold in over 140 countries. Please visit http://www.covidien.com to learn more about our business.