Teva Makes Organizational and Senior Executive Changes

Teva Pharmaceutical Industries Ltd. has announced a new organizational structure and related executive positions, effective July 1, 2014. The company will consist of two commercial business units: Global Specialty Medicines (GSM), which had been established in April 2013, and the newly formed Global Generic Medicines group (GGM). With the new organizational structure, the company also has made several changes in its senior executive team.

“The new organizational structure and leadership team will better position Teva to deliver sustainable growth and create short and long-term value,” said Teva’s President and CEO Erez  Vigodman, in a company statement. “We must capitalize first on our existing assets and capabilities and exploit opportunities and synergies emanating from the full integration of all business activities–most importantly, generic and specialty–while leveraging our global R&D and operations capabilities.” 

GGM will have full global responsibility for all existing generic markets, including portfolio management and selection, product launch, and commercial execution. “The consolidation of Teva’s regional generic businesses under one roof underscores its strong focus on, and commitment to, its generic business,” said the company in its press statement. “It will leverage the economies of scale of our global generic business to support organic growth, achieve operational and supply-chain efficiencies, optimize portfolio selection and development, and develop new and innovative products and go-to-market models. This will be done through close collaboration and integration with Teva’s Global R&D and Operations groups.” GGM will also be responsible for Teva’s over-the-counter (OTC) business, led by Teva’s joint venture with The Procter and Gamble Company.

Sigurdur Olafsson has been appointed president and chief executive officer of the newly formed GGM. He will assume this position on July 1, 2014, and will be based in the United States He joins Teva with more than 20 years of experience as an executive in the pharmaceutical industry in a number of leadership roles, most recently serving as the president of Actavis Pharma, which includes Actavis’ generic, branded generic, legacy brands, and OTC businesses. He joined Actavis as executive vice president, global generics, in September 2010, and was appointed president of the global generics business in April 2012. Prior to joining Actavis, he served as CEO of the Actavis Group, where he was responsible for overseeing its global pharmaceutical business with operations in more than 40 countries. Prior to joining the Actavis Group, he held positions of increasing responsibility with Pfizer's Global Research and Development organization in both the US and the UK from 1998 until 2003 and served as head of Drug Development for Omega Farma in Iceland for four years.

The GSM group, led by Rob Koremans, is responsible for Teva’s global specialty medicines business. “GSM will continue to drive organic growth, with a strong pipeline of patient-centric solutions, and introduce new brands through focused business initiatives,” said the company in its statement. “Building on existing expertise and incorporating innovative technology, the group will work to enhance patient experience in the therapeutic areas on which we will be focusing.”

Teva has also formed a Corporate Development, Strategy and Innovation Group, which will play a role  in positioning Teva for short- and long-term value creation, which includes emerging-market initiatives. “This group will continue to be responsible for strategy and business-development initiatives while also looking for innovative business models, partnerships, and technologies that deliver new solutions.” said the company in its statement. “It will focus on business innovation and competitive intelligence, using advanced, structured methodologies, and processes to uncover emerging scientific and technological trends.” A group leader has not been appointed yet and will be named in the near future. 

Teva also is creating a new Global Corporate Marketing Excellence and Communications Group, which will be responsible for corporate marketing excellence, brand management, corporate communications, and corporate social responsibility. “The marketing excellence arm of this group will drive a shift toward a market-oriented approach throughout the company, centered on patients, customers and payers while integrating the brand into the business,” said the company in its statement. Iris Beck-Codner has been appointed the group’s executive vice president, corporate marketing excellence and communications. She has served as senior vice-president  and chief corporate communication officer in Teva since April 2013.

Eric Drapé, currently the head of sterile, respiratory and specialty operations, has been named group executive vice president and global head of quality, effective July 1, 2014. As head of global quality, he will report directly to Teva’s President and CEO Erez Vigodman and work in close collaboration with Carlo De Notaristefani, president and CEO of Teva’s global operations. Drapé joined Teva in 2013 from Ipsen Group in France, where he was executive vice president of technical operations. Prior to Ipsen, he held positions of increasing responsibility for 17 years at Novo Nordisk in France and Denmark.

Eyal Desheh, Teva's executive vice president and chief financial officer (CFO), will also be responsible for executing Teva's corporate efficiency program, will continue to oversee Teva’s global IT, and will assume joint responsibility for investor relations, together with Teva’s President and CEO, Erez Vigodman. Desheh returned to his position as Teva's group executive vice president and CFO in February 2014, after serving as Teva's acting president and CEO since October 2013. From 2012 until October 2013, he served as group executive vice president and CFO. He became CFO in July 2008. He previously served as deputy CFO at Teva from 1989 to 1996. From 2000 until 2008, he was executive vice president and CFO at Check Point Software Technologies Ltd. From 1996 until 2000, he was CFO of Scitex Ltd.

Source: Teva Pharmaceutical Industries

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