After former CEO Pierluigi Antonelli abruptly announced his departure last month, the Italian mid-cap has signed on former Gilead chief, Jacopo Andreose, as its new chief executive.
[I am] looking forward to joining the Angelini team and helping to chart the next chapter for [Angelini] Pharma.
Antonelli, who came onboard in 2019, led the mid-sized family-owned firm through a major transformation that included a shift in focus towards brain health and the expansion of its European footprint. During Antonelli’s tenure, he also oversaw the biggest acquisition in the company’s history with the USD 960 million buyout of Swiss CNS biotech Arvelle Therapeutics and navigated the COVID-19 pandemic. His sudden departure last month and the lack of comment from the company posed questions as to whether he had been asked to leave.
When we spoke with him at the beginning of this year, Antonelli told PharmaBoardroom that a new generation of family stakeholders with new ambitions were looking to overhaul the company, which led to the strategic vision Antonelli put in place in 2019. At the time, he was optimistic about the Angelini’s new direction. “The journey ahead is still long, but we have made significant progress. Angelini Pharma is a company to watch,” he said.
A New Chapter
Andreose comes to Angelini from Gilead Sciences, where he joined as senior vice president, Intercontinental Region & Global Patient Solutions in 2020, with direct responsibility for the business in Asia, Latin America, the Middle East, Africa, and Eastern Europe. Summing up his vast industry experience in a PharmaBoardroom interview, Andreose explained is over twenty-year track record at pharma giants like Abbott, BMS and GSK. Of his new appointment Andreose said in a LinkedIn post that he was “looking forward to joining the Angelini team and helping to chart the next chapter for [Angelini] Pharma.”
“We are delighted to welcome Jacopo Andreose, who we have chosen for his extensive international experience and in-depth knowledge of the sector,” said Sergio Marullo di Condojanni and Thea Paola Angelini, respectively CEO and executive vice president of Angelini Industries, adding: “We are confident that Jacopo will make a significant contribution to the development and growth path of Angelini Pharma, which for over a century has prioritized the health and care of people.”
Andreose is set to take up his new position on February 6, 2023 but whether or not he will continue to develop the groundwork set by his predecessor and continue to transform the company remains to be seen.
Angelini Pharma, with a 2021 turnover of around EUR 900 million, was founded in 1919 by the Angelini family and remains a family-run company today as part of the multi-business group Angelini Industries.