Morgan Stanley Names BAE Systems Top European Defence Stock Despite Lower Price Target 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
UN Chief Urges Nations to Close $100 Million UNRWA Funding Gap 
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
US Egg Producers Settle Price Manipulation Probe, Agree to Pay $3.3 Million and Donate 53 Million Eggs 
U.S. Stocks End Q2 Higher as Strong Jobs Data and AI Rally Lift Wall Street 
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027 
Michael Burry Shorts Tesla at $416 as AI and Semiconductor Bearish Bets Expand 
US Dollar Rises as Fed Rate Outlook Stays Hawkish, Euro Slips and Yen Near 40-Year Low 
Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 
Nike Q4 Earnings Beat Estimates as Wholesale Growth Offsets Direct Sales Weakness 
South Korea Alleges Google Abused Android App Store Dominance, Eyes Major Fine 
Chip Stocks Rally as Samsung and SK Hynix’s $1.3 Trillion Investment Plan Boosts AI Optimism 
Oil Prices Rise as U.S.-Iran Talks Keep Geopolitical Risks in Focus 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Johnson & Johnson confirmed on Monday, Feb. 13, that it has appointed the former Sanofi EVP and global head of research & development to be the new executive vice president of its own pharmaceuticals' R&D unit.
As per Reuters, Johnson & Johnson announced that 64-year-old John C. Reed is set to replace William Halt who assumed the role as interim head of the R&D in August of last year. His appointment is set to take effect on April 3. Prior to his move to Johnson & Johnson, aside from Sanofi SA, Reed also worked for Roche Holding AG.
It was reported that Sanofi also disclosed Reed's departure from the company on the same day when rival J&J confirmed it has recruited him. The French pharmaceutical and healthcare company based in Paris did not mention that Reed is moving to Johnson & Johnson and only stated he is making his exit to “pursue a new opportunity."
He has been with Sanofi for almost five years and was praised for having “laid the foundation for the company’s R&D transformation.” The pharma firm further said he helped reshape its discovery and development by directing efforts to first and best-in-class medications.
“Dr. Reed is an accomplished leader and highly regarded researcher with an extraordinary track record for discovering and developing life-saving innovations on a global scale,” Johnson & Johnson’s chief executive officer and board chairman, Joaquin Duato, said in a press release. “I am confident his experience and leadership will enable our Pharmaceutical R&D organization to continue to accelerate innovation and competitiveness, invest with focus and discipline and improve the lives of the patients we serve around the world with transformational medicines.”
Finally, Reed also commented regarding his new post at J&J, “I am deeply honored and extremely excited to join Johnson & Johnson as I share the Company’s commitment to innovation to conquer disease and improve human health.”
