French pharmaceutical major Sanofi-aventis SA (SNY) announced Friday that it has appointed Atul Dhir as the new chief executive officer of its South San Francisco, California-based wholly-owned subsidiary BiPar Sciences, Inc., effective December 1, 2009. Dhir succeeds Hoyoung Huh, who will now be the chairman of the board of directors of BiPar, as well as chair of the newly formed BiPar Innovation Board.
Huh will advice the company in the areas of innovation, R&D transformation, and entrepreneurship, while serving as adviser to Sanofi-aventis Chief Executive Officer Christopher Viehbacher, Executive Vice President of Research and Development Marc Cluzel, and to the executive committee.
Most recently and prior to joining BiPar, Dhir served as senior executive at US Oncology, one of the nation's largest cancer treatment and research networks. Earlier, Dhir served as a vice president of the Healthcare Division of Monsanto Co. (MON) and as a consultant with McKinsey and Co.
In his new role, Dhir will focus on continuing to develop the innovative portfolio of BiPar, including the ongoing clinical program of BSI-201, an emerging class of investigational compounds. Further, Dhir would also focus on maintaining the autonomy and entrepreneurial culture of BiPar, while also capitalizing on the deep resources and experience of the worldwide sanofi-aventis organization.
In mid-April, Paris, France-based sanofi-aventis acquired biopharmaceutical company BiPar Sciences, which is a west coast innovation center and a pioneer in the innovative field of DNA repair inhibition.
SNY closed Thursday's regular trading session at $38.94, up $0.02 on a volume of 0.97 million shares, lower than the three-month average volume of 1.49 million shares.
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