Grunenthal aims to strengthen Latin America business, appointing exec VP for the region; Novartis cancels Vasella deal

German family-owned drugmaker Grunenthal Group announced the appointment of Oscar Ferenczi, former region head of Sandoz Latin America (a generic drug unit of Swiss drug major Novartis), to executive vice president for the SBU Grunenthal Latin America with immediate effect.

In his responsibility he will also take over the task of general manager Grunenthal SA Panama, the regional head office of the company in Latin America, as well as general manger Grunenthal Latin America, Miami. As a member of the Group Operating Committee of the pain specialist headquartered in Aachen (Germany), Oscar Ferenczi will be based in Miami, Florida, and will report directly to Grunenthal Group chief executive Harald Stock.

"Strengthening our businesses in Latin America is one of our core strategic objectives as we are aiming to generate 40% of Grunenthal's commercial business from the region in 2015. I am glad that Oscar has decided to lead the Group's Strategic Business Unit with its ambitious, dedicated, and passionate people. He joins Grunenthal with a successful track record in general management, marketing, sales and finance in both the generics and patented segments of the pharmaceutical industry," commented Dr Stock.