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Teva announces CEO succession for generics group

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Bhattacharjee to take Global Generics reins from Olafsson

JERUSALEM, Israel — Dipankar Bhattacharjee has been promoted to president and chief executive officer of the Global Generic Medicines Group at Teva Pharmaceutical Industries Ltd.

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Dipankar Bhattacharjee

The appointment is effective immediately. Bhattacharjee, who has served as president and CEO of Teva Generics Europe since April 2013, succeeds Sigurdur Olafsson, who will step down from his role in the Teva Global Generic Medicines Group and remain with Teva until officially retiring at the end of the first quarter of 2017.

“I am honored to lead the Global Generic Medicines Group, a business with a robust R&D pipeline, a talented team of employees, well-established relationships with business partners and customers and significant prospects for organic growth,” stated Bhattacharjee, who will be based in the United States.

“With the integration of Actavis proceeding on schedule and the complementary U.S. distribution capabilities provided by our recent acquisition of Anda, we have a matchless opportunity to add value in the U.S. health care system and in the fast-changing global generics marketplace,” he added. “I look forward to working with the rest of the management team to strengthen our generics business and help position Teva to achieve its full potential.”

Teva noted that in leading Teva Generics Europe, Bhattacharjee boosted revenues and profitability and significantly increased operating profit margins, establishing Teva as a premier generics company in Europe. He has focused on improving and enhancing the European generics operations, leading a full European integration of Actavis Generics and overseeing successful new product launches, the company said.

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Siggi Olafsson

“Dipankar has been an integral part of Teva’s management team since he joined the Company in 2009, and we are fortunate to have someone with his experience to lead our generics business at this important time,” commented Teva president and CEO Erez Vigodman. “Teva will benefit from Dipankar’s extensive experience in generics and specialty medicines, his financial and operational expertise and his deep understanding and appreciation for Teva’s culture of innovation and our outstanding people.

“As we continue to focus on integrating and realizing the value of the Actavis Generics transaction, which is progressing according to plan, Dipankar and his team will focus on generating organic growth through new launches and replenishing the pipeline through our industry-leading R&D and drive efficiencies across the generics organization,” Vigodman added.

Sigurdur (Siggi) Olafsson joined Teva as president and CEO of the Global Generic Medicines Group in 2014. Before that, he served as president of Actavis Pharma from 2012 to 2014, executive vice president of global generics at Actavis plc (Watson) from 2010 to 2012, and Actavis Group CEO from 2008 to 2010.

“I am proud of the incredible progress we have made since I joined Teva to lead the newly formed Global Generic Medicines Group,” Olafsson stated. “I firmly believe that Teva is the best-positioned generics company in the industry in terms of market presence, manufacturing capabilities and R&D pipeline. I am grateful for the support from the talented team at Teva and am fully committed to ensuring a smooth transition into 2017.”


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