Irish pharmaceutical firm Elan has appointed former vice president of Lilly Research Laboratories Carlos Paya as its new president.
Mr Paya joins the company board on November 25th and will focus on strategic planning and take the role of chief scientific officer and some chief medical officer duties.
Mr Paya will also be responsible for Elan's commercial and marketing functions, with a primary focus on strategic planning, marketing positioning and product life cycle management, the company said in a statement.
In Dublin this morning Elan shares were down over 1 per cent to €4.59 and have fallen 68 per cent this year. The company has a market cap of €2.17 billion. The Iseq index is down 66 per cent so far this year.
