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news.Dutch biotech company Crucell is establishing two business units for vaccines and proteins, in a bid to enhance the focus on specific opportunities for both product units and increase transparency to shareholders by separate reporting of financial results.
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The company plans to report its annual 2007 results along with the new product business units.
Crucell has appointed Mr Bjorn Sjostrand to head the vaccines business unit. Mr Sjostrand was CEO of SBL Vaccines, which was acquired by Crucell in November 2006.
Crucell has also appointed Mr Arthur Lahr to head the protein business unit. Mr Lahr was Crucell’s chief strategy officer and executive vice president of sales & business development. Both Mr Sjöstrand and Mr Lahr will remain members of Crucell’s management committee.
The company further announced that Mr Kuno Sommer, chief business officer, will leave the company in September 2007.
Crucell’s CEO Dr Ronald H.P. Brus commented, “Crucell has become a global player in the vaccine industry and has established a significant technology presence in the $40 billion protein drug industry. We have now set up dedicated business units with strong leadership to tailor our approach to grow aggressively in these two different but complimentary markets. Additionally, increased transparency in financial results will allow shareholders to follow and value our progress more accurately.”