28. May 2012 13:38
Jeremy Levin, the new Teva CEO, has announced “an augmentation of the US generics team” to restore the company’s position in that market sector.
Allan Oberman will shift from leading Teva’s EMIA division to leading its US generics division – replacing Tim Crew, who will move to another role.
Teva has long dominated the US generics market, but its annual generic drugs revenue in the US fell by 32% to $4bn in 2011.
Based in Israel, Teva divides its global business into four units: Europe, the Americas, EMIA (Eastern Europe, the Middle East, Israel and Africa).
Speaking at a press conference, Levin (pictured) said: “We have instituted an augmentation of the US generics team, and that was an important step for us to bring in the greater depth of management and greater capability there, to assist in what I believe we can do here, which is to rebuild that market share.”
Teva’s new distribution centre in Northeast Philadelphia, due to be completed in mid-2013, will further strengthen its US presence.
Levin, who joined Teva in February, replaced Shlomo Yanai as CEO on May 10.