Teva Pharmaceutical Industries Ltd. has restructured its organization and made senior leadership changes that it said will "achieve seamless global integration, focus and effectiveness across the company."

Teva Pharmaceutical Industries, leadership changes, restructure, Global Specialty Medicines, GSM, Global Generic Medicines, GGM, Sigurdur Olafsson, Rob Koremans, Erez Vigodman, Corporate Development, Strategy and Innovation Group, Global Corporate Marketing Excellence and Communications Group, Iris Beck-Codner, Eric Drapé, Carlo De Notaristefani, Eyal Desheh

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Teva makes organizational, leadership changes

June 2nd, 2014

JERUSALEM – Teva Pharmaceutical Industries Ltd. has restructured its organization and made senior leadership changes that it said will "achieve seamless global integration, focus and effectiveness across the company."

Teva said Monday that effective July 1, the company will be spearheaded by two commercial business units: Global Specialty Medicines (GSM), which was created in April 2013, and the newly formed Global Generic Medicines (GGM) group.

GGM will have global responsibility for all current generic markets, including portfolio management and selection, product launch and commercial execution. Teva noted that the grouping of its regional generic businesses under one umbrella will leverage the economies of scale of its global generic business to support organic growth, achieve operational and supply chain efficiencies, optimize portfolio selection and development, and develop new products and go-to-market models, in close collaboration with Teva's Global R&D and Operations groups.

GGM will also be responsible for Teva's growing over-the-counter business, led by its joint venture with Procter & Gamble Co.

Sigurdur Olafsson has been appointed president and chief executive officer of the new GGM group. Based in the United States, Olafsson will take over the post on July 1. He joins Teva with over 20 years of experience as an executive in the pharmaceutical industry in a number of leadership roles, including his previous role as president of Actavis Pharma.

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.

According to Teva, GGM and GSM will work together to realize synergies and leverage Teva's broad product portfolio in both its innovative and generics businesses. The company said the integration between these two areas will enable it to create a differentiated business model.

"The new organizational structure and leadership team will better position Teva to deliver sustainable growth and create short and long-term value. 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," stated Teva president and CEO Erez Vigodman.

"The new, fully integrated commercial generic business, under the leadership of Sigurdur Olafsson, is designed to enhance Teva's current leadership position in the global generic market," Vigodman added. "The unified generic business will focus on accelerating business growth, achieving competitive costs, developing innovative value propositions, creating a broad and differentiated portfolio, and strengthening our commercial position in all existing markets."

Teva said its newly formed Corporate Development, Strategy and Innovation Group will have a key role in positioning the company for short- and long-term value creation, including emerging market initiatives. The 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. The company said it expects to name a leader for the group soon.

In addition, the new Global Corporate Marketing Excellence and Communications Group will be responsible for corporate marketing excellence, brand management, corporate communications and corporate social responsibility. Teva said 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. Iris Beck-Codner has been appointed group executive vice president of corporate marketing excellence and communications.

Other appointments include Eric Drapé, currently the head of sterile, respiratory and specialty operations, who has been named group executive vice president and global head of quality, effective July 1. He will report directly to Vigodman and work in close collaboration with Carlo De Notaristefani, president and CEO of Teva's global operations.

Eyal Desheh, Teva’s executive vice president and chief financial officer, 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 Vigodman.