Alexion announced the transition of its CFO, with Paul Clancy set to exit the company and Aradhana Sarin set to take his place. The switch will occur after the company posts third quarter results, at which point a transition period will begin. Clancy will stay with the company through to the middle of 2020 in the capacity of an advisor.
Clancy has been in the role for two years, after joining from Biogen – where he held the same role for 10 years. Sarin will move internally into the new role, after having held the position of chief strategy and business officer. During her time in this role, Sarin was tasked with rebuilding and diversifying Alexion pipeline of products.
Ludwig Hantson, CEO at Alexion, “As Paul’s successor, I am confident Sarin will help us continue to build on the strong foundation we’ve established and execute on our business strategies. In her nearly two years at Alexion, Sarin has created significant value for the company, leading our business development efforts to rebuild our pipeline and driving our strategic vision as we position the company for long-term success.”
Soliris (Eculizumab) is a big earner for Alexion but the company is now looking to support sales by diversifying its portfolio, especially as rival companies look to develop biosimilars of the product.