Wyeth Research president to retire

Wyeth Research’s president Robert Ruffolo is set to retire later this year, it has been announced.

Mr Ruffolo has been described as the driving force being the pharmaceutical company’s research and development success in recent years and is credited as playing a major role its overall progress.

Having joined the company in 2000, Mr Ruffolo has overseen the development of a variety of drugs being marketed around the world by Wyeth, including those targeting oncology, cardiovascular problems and neuroscience.

While being president of Wyeth’s research operation, he was also a senior vice-president of the overall group and he is to be succeeded in both capacities by Mikael Dohlsten.

Bernard Poussot, Wyeth’s president and chief executive, said: “His legacy will be our pipeline, recognised as one of the industry’s most innovative.”

Wyeth recently revealed that its net revenues for the first quarter of this year were up by around six per cent to almost £2.85 billion.