Washington, D.C. (September 4, 2019)—The Pharmaceutical Research and Manufacturers of America (PhRMA) is pleased to announce that Giovanni Caforio, M.D., chairman and CEO of Bristol Myers Squibb has assumed the role of chairman of the PhRMA board of directors.
Prior to today’s announcement, Caforio held the position of chairman-elect and before that, the position of treasurer for the PhRMA Board. Caforio succeeds Olivier Brandicourt, CEO, Sanofi, who announced his retirement from Sanofi effective September 1, 2019.
“I am pleased to welcome Giovanni as PhRMA board chairman and thank Olivier for his invaluable leadership and significant contributions,” said PhRMA president and CEO, Stephen J. Ubl. “Our companies are developing treatments and cures unimaginable just a decade ago, but we must ensure patients’ have access to these transformative therapies. Giovanni’s proven leadership ability will be an incredible asset as we work with stakeholders across the system to advance reforms that improve patient access and lower out-of-pockets costs.”
Dr. Caforio has served as CEO of Bristol Myers Squibb since May 2015 and became chairman of the board of directors in May 2017. Dr. Caforio received his medical degree from the University of Rome and joined Bristol Myers Squibb in Italy in 2000. He advanced through a series of roles in Europe and the United States, becoming president of the U.S. commercial organization in 2011. He was named chief commercial officer in 2013 and became chief operating officer in 2014. Dr. Caforio is a member of the Board of Trustees of Hun School of Princeton and a member of the Business Roundtable and the CEO Roundtable on Cancer.
“The progress of the biopharmaceutical industry has been made possible by passionate, talented and dedicated people who have one united goal – delivering innovative medicines to patients,” said Caforio. “Our commitment includes making sure patients have affordable options and can access these medicines when they need them. As PhRMA Board Chair, I will advocate for policy solutions that ensure all patients can fully benefit from today’s historic era in biomedical innovation."
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives. Since 2000, PhRMA member companies have invested more than $900 billion in the search for new treatments and cures, including an estimated $79.6 billion in 2018 alone.