July 10, 2024 Changes to the Pharmacosmos’ Board of Directors

Press Release – Holbaek, 10 July 2024 

Pharmacosmos A/S Announces Changes to its Board of Directors and Updates to its Executive Leadership Team 

After reporting a record 35% sales growth to 2.40 billion DKK for 2023/24, Pharmacosmos announces changes to its Board and Executive Leadership Team. 

Changes to the Board of Directors 
Tommy Pedersen, who has served on the board of Pharmacosmos A/S for more than two decades, has decided to step down from the Board of Directors. Contributing with strong banking and investment experience, Tommy has been instrumental in the dramatic growth of Pharmacosmos during his two decades with the company.  

The board has been strengthened with two new members: Lars Green and Milena Jordanova Olsen. 

Lars Green brings more than 25 years of leadership experience in the pharmaceutical industry, with a particular emphasis on finance and corporate functions. Lars spent more than 25 years at Novo Nordisk, most recently as Executive Vice President of Business Services and Compliance from 2017 to 2019. Subsequent to his tenure at Novo Nordisk, he was Executive Vice President and CFO of Novozymes from 2019 to 2023. 

Milena Jordanova Olsen contributes a wealth of experience and insights in navigating legal and compliance complexities refined over two decades as an attorney, in-house legal counsel and in her current role as General Counsel of Pharmacosmos and a member of its executive leadership team. She has worked with prominent law firms in Denmark, refining her expertise in commercial law and at Hempel, as senior legal counsel.  

The changes to the Board of Directors are effective as of June 27, 2024. The other members of the Pharmacosmos board are Jacob Tolstrup (chairman), Lars Christensen, and Martin Holst Lange. 

Jacob Tolstrup, Chairman of the Board of Pharmacosmos A/S, comments: "I would like to extend my heartfelt thanks to Tommy. I have appreciated working with Tommy over the last several years, and his input has been very valuable to the company. At the same time, I am very happy to welcome Milena and Lars to the board. Milena has been a driving force in maturing our legal and compliance organisation and setup, and I am confident that she will add value to the board. Lars brings exceptional expertise within finance and corporate functions in the pharmaceutical industry. I look forward to working with both of them." 

Tobias S. Christensen, President & CEO, says: “First, I would like to express my sincere appreciation to Tommy for his significant contributions – he has been a great advisor, supporter, and friend of the company. We will miss him in our board discussions. Second, I look forward to having Lars and Milena join our Board of Directors. They complement the rest of our board very well, and I am confident that they will provide valuable guidance as Pharmacosmos continues to grow and develop.” 

Updates to the Executive Leadership Team 
Thomas B. Riisager will join Pharmacosmos on 8 August 2024 as Executive Vice President of Business Development and Strategy. Thomas brings more than two decades of international business development experience. Thomas’ prior experience includes leadership responsibility for Business Development and Strategy at H. Lundbeck in Denmark, Esteve in Spain, and Theramex in the UK. 

Steen Søgaard will join Pharmacosmos on 1 September 2024 in a new role as Executive Vice President of Product Supply & Development. Steen has over 25 years of pharmaceutical manufacturing experience, having served in various manufacturing and process development roles at H. Lundbeck in Denmark and Italy, including his current position as Senior Vice President of Chemical Production at H. Lundbeck A/S. 

Lars Wagner Søgaard, Vice President of Global Supply Chain & Procurement (no relation to Steen Søgaard), and Lise Larsen, Vice President of Production, who are currently members of the Pharmacosmos leadership team, will report to Steen Søgaard after he joins on 1 September. 

Tobias S. Christensen, President & CEO, comments: “I am very happy to welcome Steen and Thomas to our leadership team. Each of them is a leading expert and senior leader within their respective fields. Their combined experience and knowledge will undoubtedly strengthen our organisation and support us in the execution of our ambitious strategy. I look forward to working closely with them.” 

About Pharmacosmos Group

Pharmacosmos Group, headquartered in Holbaek, Denmark, and founded in 1965, is a highly specialised company focused on carbohydrate chemistry and a global leader in the development of innovative treatments for patients suffering from iron deficiency and iron deficiency anaemia. With companies in the UK, Nordics, Germany, the USA, and China, as well as through partners, Pharmacosmos markets its products around the world. With a strong and ongoing commitment to R&D, Pharmacosmos is able to leverage a unique carbohydrate production platform along with deep expertise in the synthesis of iron-carbohydrate complexes. The Pharmacosmos Group has more than 500 employees.


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