Teva addresses ‘internal inefficiencies’ with restructuring
Israel-headquartered Teva has announced a series of organisational and leadership changes as it seeks to address external pressures and internal inefficiencies.
Yesterday, Teva announced that its commercial business will no longer have two separate groups for generics and speciality medicines.
Instead, the groups will be integrated into one organisation, operating in three regions: North America, Europe and “growth markets”.
Additionally, the former generic research and development (R&D) and speciality R&D organisations will be combined into one group, which will have overall responsibility for all R&D activities (generic, speciality and biologics).
As a result of the changes, three executives will retire from Teva at the end of the year: Michael Hayden, president of global R&D and chief scientific officer; Rob Koremans, president and CEO of global speciality medicines; and Dipankar Bhattacharjee, president and CEO of Teva’s global generic medicines group.
Kåre Schultz, Teva’s president and CEO, said: “Teva is taking decisive and immediate action to address external pressures and internal inefficiencies.
“Our new company structure will enable stronger alignment and integration between R&D, operations and the commercial regions, allowing us to become a more agile, lean and profitable company.”
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