Cavanaugh to replace Taubert as J&J's pharma head
Jennifer Taubert and Tom Cavanaugh.
There's a change at the helm of Johnson & Johnson's pharma division in the offing, as executive vice president Jennifer Taubert steps down, to be succeeded by Tom Cavanaugh.
Taubert's decision to retire on 1st September ends a career at J&J that spanned more than 21 years and culminated in her roles as EVP of the company's Innovative Medicines division and global pharma chair, which she has held since July 2018.
J&J has promoted from within for the new leadership of the division, as Cavanaugh has been serving as group chairman, North America, for Innovative Medicines since 2023. He previously spent nearly 15 years at Celgene, in progressively senior roles, leaving to join J&J before it was acquired by Bristol Myers Squibb.
In a statement, J&J said Taubert had made "an extraordinary impact on patients, our business, and generations of leaders across our company," helping Innovative Medicines to grow into a $60 billion-a-year enterprise from just over $40 billion when she took on leadership of the unit.
"Her vision, leadership, unwavering commitment to healthcare innovation, and passion for talent development helped define an era of growth and position us for future success," commented Joaquin Duato, J&J's chairman and chief executive.
Of Cavanaugh, Duato said: "I am confident his deep understanding of our business, proven track record of growth, and focus on developing people will ensure we are poised to continue to deliver for patients, healthcare systems, and our company."
During her tenure, Taubert was involved in the development of new medicines in oncology, immunology, neuroscience, and cardiovascular disease, amongst others, and was recognised for 10 consecutive years as one of Fortune's Most Powerful Women.
Among the highlights of her career at J&J were the $14.6 billion acquisition of Intra-Cellular Therapies, which brought in blockbuster neuropsychiatry drug Caplyta (lumateperone), the $30 billion takeover of Actelion – for which she was the main architect even though it closed just before she took the top job – and the $6.5 billion Momenta Pharma buy.
Cavanaugh is taking on his new role at a critical time for J&J, facing the loss of commercial exclusivity for $14 billion-a-year blood cancer therapy Darzalex (daratumumab) around the end of the decade, as well as the end of patent protection for other drugs, including other blockbusters like immunology therapies Stelara (ustekinumab) and Simponi (golimumab) and pulmonary artery hypertension (PAH) drug Opsumit (macitentan).
