miles white abbvie

Pharma Longtime Abbott chief Miles White, designer of AbbVie spinoff, bows out of CEO job Miles White (right) will step down as Abbott's CEO on … He currently serves as executive chairman of Abbott Laboratories. "While Miles White was at times considered a larger-than-life figure at Abbott, we think Bob Ford is the right person to fill Miles' shoes," Evercore ISI analyst Vijay Kumar said in a client note. I am the author of the book, "Inside Obamacare." He has served as chairman and CEO since 1998. In his earlier years as CEO, White guided Abbott through various scrapes with regulators that included issues he inherited from the Burnham era. He will be succeeded by another long-time Abbott veteran, Robert B. Ford, who has been with the company for 23 years. Here’s a timeline of … Abbott is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Abbott. 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Abbott also spun off in 2013 its drug business into Abbvie, which is now valued at more than $125 billion and when the former Hospira hospital products business sold to Pfizer in 2015, it was purchased for $17 billion. Prior to that, I wrote for Modern Healthcare and several Iowa newspapers including the Des Moines Register. White also spun out two highly successful companies, Hospira in 2004 (which was acquired by Pfizer in 2015), and AbbVie in 2013, which is a Fortune 100 company today. Can SARS-CoV-2 Become Even More Troublesome Than The UK And South African Variants? Miles D. White (born 1955) is an American businessman. In 2017, Abbott closed on its $5.3 billion acquisition of medical test maker, Alere and continues to pay down debt accumulated from its $25 billion purchase of device maker St. Jude Medical, which closed in January 2017. Miles D. White will step down from his role as CEO following 21 years with the company. Abbott Laboratories chief Miles White will shed the CEO title next year after a 21-year run and several major transformations at the global healthcare company. White, who will … Abbott Laboratories said Tuesday that Chief Executive Miles D. White, who oversaw the transformation of the health care products maker with a series of acquisitions and spinoffs in more than 20 years at the helm, will step down as CEO in March 2020. Most notably, Abbott battled with the Food and Drug Administration for years over quality control issues in its diagnostics division that White ran before he became CEO. Mr. White, who joined Abbott in 1984, served as Abbott's Chairman and Chief Executive Officer from 1999 to 2020. He will remain executive chairman of the board. Today, he's one of … He is a member of the Business Council and is a fellow of the American Academy of Arts and Sciences. He spearheaded one of the most successful acquisitions in the pharmaceutical industry, purchasing BASF's Knoll pharmaceutical business in 2001. Abbott (NYSE: ABT) CEO Miles White is retiring in March after two decades heading the Abbott Park, Ill.-based corporation. AbbVie's value has risen from $33 per share in 2013 to $87 per share today. Most recently, Abbott’s Freestyle Libre glucose monitoring system test used by people with diabetes became a blockbuster generating more than $1 billion in global sales even as new products enter the market. The inability to sell the diagnostic kits in question that were used by hospitals and large reference laboratories to test for a range of illnesses cost Abbott hundreds of millions of dollars in the time it took to eventually resolve the FDA issues. Mr. White also spun out two highly successful companies, Hospira in 2004 (which was acquired by Pfizer in 2015), and AbbVie in 2013, which is a Fortune 100 company today. The board has unanimously appointed Robert Ford, a 23-year Abbott veteran, to succeed White as CEO. Abbott in 1999 agreed to pay the government $100 million in what at the time was the largest largest civil settlement by a medical-product maker regulated by the Food and Drug Administration, according to a Chicago Tribune report at that time. Photographer: Frank Polich/Bloomberg News. to a Chicago Tribune report at that time. Ford was the first official No. He is highly respected, has helped us shape the company during the last several years and understands the forces driving change in healthcare. According to Miles White, CEO at the time, the purpose of the split was to allow markets to value the two businesses separately; White said that investors would "benefit from two fundamentally different investment opportunities with distinct strategic profiles and business priorities." Miles White steps aside at Abbott—but only so far ... Shares of Abbott and North Chicago-based AbbVie—the pharmaceutical spinoff now facing the imminent loss of … Links which take you out of Abbott worldwide websites are not under the control of Abbott, and Abbott is not responsible for the contents of any such site or any further links from such site. White, a former chairman of the Federal Reserve Bank of Chicago, was instrumental in Abbott’s acquisitions of rivals St. Jude Medical and Alere, as well as the spinoffs of Abbott’s pharmaceutical arm into AbbVie Inc in 2013 and of Hospira earlier in … How Safe Are Covid-19 Coronavirus Vaccines? But great CEOs, like Miles White of Abbott Labs - Get Report, can turn ... White spun off Abbvie - Get Report in 2013 to make sure that value was realized. CEO Miles White (Image from Abbott) Few medical device companies have seen the growth and transformation that Abbott (NYSE: ABT) has seen under the leadership of Miles White. Barron credits Miles White’s “corporate engineering” that has helped investors realize great value, ma king Abbott one of the industry’s most durable growth stories. It has paid off. White spun off AbbVie Inc (NYSE: ABBV) and Hospira, the latter of which was bought by Pfizer Inc. (NYSE: PFE). “Today, the company is the strongest it has been during my tenure, and I am confident that Robert will lead Abbott successfully into the future. He took over from Duane Burnham, who was an insular finance executive who rarely did interviews or spoke publicly, often telling employees that the “whale that surfaces gets harpooned.”. White will shed the CEO title next year after a 21-year run and several major transformations at the global healthcare company. He spearheaded one of the most successful acquisitions in the pharmaceutical industry, purchasing BASF’s Knoll pharmaceutical business in 2001. Abbott Laboratories chief executive Miles White is stepping down effective next year after 21 years at the helm of the diversified healthcare company. Miles White would continue as the senior leader of Abbott while longtime Abbott corporate executive Richard Gonzalez would lead the new AbbVie corporation. Miles White, Chairman and CEO of Abbott, has been named in Barron’s annual list of 30 World’s Best CEOs for the seventh consecutive year. https://www.fiercepharma.com/special-report/miles-white-abbott-laboratories But more costly than the fine itself was Abbott’s agreement to stop selling some diagnostic products until it corrected the various violations of federal quality standards. "One of the primary goals in my career has been to leave the company well positioned for the people who count on us,” White said. As a result, the site may contain information on pharmaceuticals, medical devices and other products or uses of those products that are not approved in other countries or regions. There are 5 older and 28 younger executives at Abbott Laboratories. Unless otherwise specified, all product and service names appearing in this Internet site are trademarks owned by or licensed to Abbott, its subsidiaries or affiliates. Mr. White was formerly Chairman of the Federal Reserve Bank of Chicago. The Presence of Miles D. White's profile does not indicate a business or promotional relationship of any kind between RelSci and Miles D. White. White, who will remain executive chairman of Abbott’s board, said in a statement that he will leave Abbott in a strong position, which was a goal of his when he decided to retire. Mr. White earned both a bachelor's degree in mechanical engineering and a master's degree in business administration from Stanford University. I'm active in education and teach in the University of Iowa School of Journalism MA in Strategic Communication program. All Rights Reserved, This is a BETA experience. Please be aware that the website you have requested is intended for the residents of a particular country or region, as noted on that site. White will officially step down as Abbott CEO on March 31, 2020, but remain executive chairman. He is also Chairman of The Culver Educational Foundation and Chairman-Civic Committee at The Commercial Club of Chicago and on the board of 10 other companies. Abbott Labs teams are working around the clock to ramp up COVID-19 tests and to develop more diagnosis products, outgoing CEO Miles White said. He spearheaded one of the most successful acquisitions in the pharmaceutical industry, purchasing BASF's Knoll pharmaceutical business in 2001. Share Us With The World Relationship Science 5 Pennsylvania Plaza 15th Floor New York, NY 10001 The 64-year-old White last year named long-time Abbott executive Robert B. Ford, who is 46 years old, as the company’s president and chief operating officer in what was seen by many as a move to pick his own successor. A regular on Forbes on Fox (2014-2018), you can see me on occasion nationally on Fox Business News. AbbVie has moved forward with numerous deals of its own including its latest acquisition of Allergan for $63 billion in 2019. I've written about health care for three decades, starting from my native Iowa where I covered the presidential campaign bus rides of Bill and Hillary Clinton through the Hawkeye state talking health reform and the economy. Longtime Abbott Labs CEO Miles White to Step Down in March Current president, Robert Ford, will replace him; Mr. White will remain as chairman … The website that you have requested also may not be optimized for your screen size. White will turn over the reins of the company on March 31, 2020. Mr. White also spun out two highly successful companies, Hospira in 2004 (which was acquired by Pfizer in 2015), and AbbVie in 2013, which is a Fortune 100 company today. Robert B. Ford, to succeed White as CEO, White guided Abbott through various scrapes with that! Website that you have requested also may not be optimized for your size. ) -- Abbott Laboratories chief executive Officer from 1999 to 2020 more Troublesome than the UK and African... Understands the forces driving change in healthcare the product is considered unique in that it measures continuously! Ma in Strategic Communication program guided Abbott through various scrapes with regulators that included issues he inherited the... ( 2014-2018 ), you can hear my health segments and business analysis on News... Is stepping down effective next year after 21 years at the global company. Robert B. Ford, to succeed White, who joined Abbott in 1984, served Abbott. 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