PhRMA said Thursday that Castellani’s retirement is slated to go into effect Jan. 1, 2016.
“Representing the biopharmaceutical industry has been one of the most rewarding experiences of my career, and I am very proud of the incredible work our members do every day to improve the lives of patients,” Castellani said in a statement.
The announcement came at a PhRMA board meeting in which Merck & Co. chairman and CEO Kenneth Frazier was elected as chairman. Frazier, who formerly held the position of chairman-elect, succeeds Ian Read, chairman and CEO of Pfizer Inc, as PhRMA’s chairman.
Castellani has served as president and CEO of PhRMA since September 2010.
“On behalf of the PhRMA board of directors, I want to thank John for his steadfast leadership at PhRMA over the past five years,” Frazier stated. “He has been a strong advocate on behalf of the biopharmaceutical research industry and for the millions of patients we serve all around the world. Under John’s leadership, PhRMA has worked tirelessly to protect and strengthen an environment that fosters the continued development of new lifesaving therapies and to ensure patients can access the medicines they need to live longer, healthier lives.
“Thanks to John’s leadership, PhRMA is strong and well-positioned in Washington today,” he added. “We greatly appreciate his service, and we wish him the best of luck in his retirement.”
According to Frazier, a search for new PhRMA CEO is under way and is being led by the board’s governance and compensation committee.
“A hallmark of John’s tenure has been good management and, by announcing his retirement in this way, we have an opportunity to manage this transition smoothly,” Frazier commented. “The board will work with him and the rest of the senior PhRMA leadership team to ensure there is continuity during this time period.”
Also elected at the board meeting were Biogen CEO George Scangos as chairman-elect of PhRMA and Joaquin Duato, worldwide chairman of pharmaceuticals at Johnson & Johnson, as treasurer.