Patheon, a Canadian-born drug development and manufacturing services provider, has named Michel Lagarde its president. Lagarde joins the company from JLL Partners, the U.S. private equity that helped take Patheon private for US$1.4 billion in March 2014. The deal saw the business amalgamated with a subsidiary of DPx, formed by JLL and Royal DSM. Patheon, which continues to have offices in Canada, is now based in Durham, North Carolina.
Patheon Appoints Michel Lagarde as President
Brings 20+ Years Global, Operational and Financial Experience to Patheon
Tuesday, May 31, 2016
DURHAM, N.C.–(BUSINESS WIRE)–Patheon, the leading global provider of pharmaceutical development and manufacturing services announced today that Michel Lagarde has been appointed as its President, effective immediately. In this newly created role, Lagarde will lead global corporate and cross-enterprise operations and report to Patheon CEO, James Mullen. Mullen will continue to direct the company’s global growth strategy, as well as oversee the Patheon’s business segments, sales & marketing, talent and quality functions.
Lagarde joins Patheon from JLL Partners, a leading middle market private equity firm with a track record across several growing sectors, including healthcare, business/financial services, building products and aerospace/defense. For the last eight years, he has been working with several of JLL’s portfolio companies in the healthcare and pharma services sectors as managing director, including Patheon. He served as a member of Patheon’s Board of Directors since 2011.
Lagarde has worked closely with Mullen and members of Patheon’s executive committee for the last five years to transform the company into a global leader, building one of the industry’s broadest development and manufacturing portfolios for biopharma clients. Patheon has successfully completed and integrated five strategic acquisitions in the last five years, which has more than doubled the company’s revenues and EBITDA.
“The creation of the president role is a demonstration of our efforts to expand our leadership capabilities and position the company for future growth,” said Mullen. “As a member of Patheon’s board and operating partner at JLL, Michel has developed a keen sense of what it will take to compete in the marketplace going forward and continue to drive the consolidation of our industry. Michel and I have partnered to build Patheon over the past five years. As we transition to a public company we can continue this partnership in his new role. Michel’s strong financial acumen, industry knowledge and global business experience will be an asset to the company.”
Lagarde said, “I am very excited to be deepening my relationship with an organization that is widely recognized as a global category leader, offering a single-source, end-to-end solution that helps biopharma clients address their supply chain management needs. Patheon has a strong value proposition and I look forward to working with the team to grow our business and serve our clients well.”
Prior to joining JLL, Lagarde served as CEO and CFO of the Domestic Appliances and Personal Care division of Philips Electronics North America. During his tenure, he successfully improved all operating metrics including achieving category leadership in a number of key product segments. Prior, he served as CFO of Philips Electronics in Indonesia and financial controller of Philips Electronics Hong Kong, where he was responsible for a $1 billion industrial footprint.
Lagarde earned a B.B.A from European University Antwerp and an Executive Master in Finance & Control from the University of Maastricht & Amsterdam. He will be based in the Boston offices.
As a result of his appointment and in keeping with corporate governance best practices, Lagarde has stepped down from Patheon’s Board of Directors.
Patheon is a leading global provider of outsourced pharmaceutical development and manufacturing services. With approximately 8,700 employees worldwide, Patheon provides a comprehensive, integrated and highly customizable set of solutions to help customers of all sizes satisfy complex development and manufacturing needs at any stage of the pharmaceutical development cycle. www.patheon.com
Mari Mansfield, +1 919-226 -3137
Photo courtesy of Patheon