Campanelli to take reins from De Silva
DUBLIN, Ireland — Endo International plc has appointed Paul Campanelli, as president and chief executive officer, succeeding Rajiv De Silva, who is stepping down.
Endo said Campanelli, who was president of its generic drugs and OTC business, takes the helm as president and CEO effective immediately. With the move, he will take De Silva’s spot on the board of directors.
“I am very excited to lead Endo at this important time and, together with a strong senior management team, address the challenges of today’s health care environment,” Campanelli said in a statement. “Endo has differentiated operating businesses that provide diverse products ranging from high-value branded pharmaceuticals to cost-effective generics and is powered by a dedicated global workforce. I look forward to working closely and collaboratively with our leadership team and Endo’s Board to build on our strengths and help position the company to thrive over the long-term.”
Campanelli, 54, has more than 25 years of experience in the generics and branded pharmaceutical industry. He joined Endo last year after its acquisition of Par Pharmaceutical, where he had been CEO since 2012. Before that, he served as chief operating officer of Par and previously held roles of increasing responsibility at the drug maker, including president of Par Generics and executive vice president of business development and licensing for branded and generic products.
Par Pharmaceutical accounted for about 60% of Endo’s total revenue through the first half of 2016, Endo reported.
“Given the continued evolution of Endo’s business and Paul’s impressive track record of delivering strong operating results, the board concluded that Paul is the right leader for Endo at this juncture as we focus on execution and increasing the value of our attractive U.S. branded, U.S. generic and international pharmaceutical assets,” stated Endo chairman Roger Kimmel. “Paul has spent a significant portion of his career leading and operating complex generics businesses and overseeing Par’s branded business. The board believes his experience positions him to drive a broad range of growth initiatives across Endo’s entire portfolio, generating better health outcomes for patients and creating value for Endo’s shareholders.”
De Silva served as president and CEO of Endo since March 2013. He joined the company from Valeant Pharmaceuticals, where he was president as well as COO of specialty pharmaceuticals.
“It has been a pleasure and an honor leading Endo, building a talented management team and working with our dedicated employees over the past three and a half years,” De Silva commented. “Now, with an international footprint, one year after the acquisition of Par and with a new president at the helm of our U.S. branded business, the time is right for me to move on to new professional opportunities. I am working closely with the board, Paul and the entire senior leadership team to ensure a smooth transition and remain fully committed to Endo’s future success.”