April 20, 2020 -- Covis Pharma, a global specialty pharmaceutical company, today announced the appointment of Rajiv De Silva as the Chairman of the Board of Directors, effective immediately.
De Silva is a proven business leader in the biopharmaceutical sector, with 25 years of broad international industry experience, including eight at the executive level in publicly traded healthcare companies as CEO and COO. He has a track of record of leading companies through high-growth stages as well as complex turnarounds that included organic growth, M&A, organizational restructuring and capital structure transformation.
Michael Porter, CEO Covis Pharma, commented: “Rajiv is a very accomplished strategic leader with deep experience across the pharma sector. I look forward to working closely with him as we continue to build the business into one of the leading respiratory companies in the world and establish Covis as a leader in other attractive therapeutic areas. This appointment, coupled with our recent partnership with Apollo, provides a solid foundation for us to continue with our global expansion via transformational acquisitions, strong organic commercial growth and product development.”
In addition to his role as Chairman of Covis, De Silva is the Managing Partner of Asiri Advisors. He was President, CEO and Director of the multinational pharmaceutical company Endo International Plc from 2013 to 2016. Prior to Endo, De Silva served as President of Valeant Pharmaceuticals from 2010 to 2013, and as COO of its Specialty Pharmaceuticals business from 2009 to 2013. Previously, he held multiple leadership positions with Novartis AG, where he worked from 2003 to 2008. De Silva started his career in pharmaceuticals at McKinsey in 1995, where he rose to Partner and a member of the leadership group of its Pharmaceuticals and Medical Products Practice. De Silva has a BSE, Honors from Princeton University, an MS from Stanford University and an MBA with Distinction from the Wharton School at the University of Pennsylvania. De Silva has served as a director on the boards of AMAG Pharmaceuticals (2012-2013) and Rx&D, the Canadian Pharmaceutical Association (2005-2007).
De Silva commented: “I am delighted to join the Covis Pharma Board at a pivotal time for the company. I look forward to working with Michael and his team as they build Covis into a global leader in its areas of therapeutic focus. Covis’ products make an important difference in the lives of patients, and I am excited by the opportunity to continue to expand the company’s impact on patient outcomes.”
Covis is focused on marketing and distributing highly efficacious branded products used to treat chronic and life-threatening medical conditions and improve patient outcomes in various therapeutic areas, including respiratory, cardiovascular, gastroenterology and central nervous system diseases. Moreover, Covis represents a unique platform opportunity to work with an experienced management team with a proven track record of delivering exponential organic growth and generating value through acquisitions. Last year, Covis announced an agreement with Walgreens, one of the largest drugstore chains in the United States, to reduce the cost for Alvesco (ciclesonide) Inhalation Aerosol. Alvesco is now available for zero or reduced co-pay exclusively at Walgreens’ more than 9,200 U.S. retail pharmacy locations. Alvesco is an inhaled anti-inflammatory maintenance therapy delivered by a metered-dose inhaler to help control persistent asthma.
About Covis Pharma
Covis Pharma is headquartered in Luxembourg with branch operations in Zug, Switzerland. Covis is a global specialty pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses. Additional information is available at www.covispharma.com.