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Rx downsizing hits PhRMA board?

Executive Summary

Abbott CEO Miles White will serve as both vice chairman and treasurer of the Pharmaceutical Research & Manufacturers of America during 2003. White moved into the treasurer position a year ahead of schedule when Bristol-Myers Squibb CEO Peter Dolan resigned the post to concentrate on Bristol's management and earnings reporting issues (1"The Pink Sheet" May 13, 2002, In Brief). The decision not to name a new treasurer during the annual meeting presumably reflects the continued uncertainty surrounding Bristol. The other company overdue for a turn as chairman is Schering-Plough; however, CEO Richard Kogan (who chaired the association in 1990) is retiring, and his replacement is expected to be Pharmacia CEO Fred Hassan - the immediate past chairman of PhRMA...
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