A New Regime Takes The Reins At Teva
New CEO Kare Schultz has established a new leadership team and structure at the generic drug giant, as head of R&D Michael Hayden, Global Specialty Medicines CEO Rob Koremans and Global Generics Medicines CEO Dipankar Bhattacharjee will all leave at the end of the year.
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Siggi Olafsson has taken the reins at Mallinckrodt after stepping down as Hikma’s CEO. At the same time, Teva has named a new global R&D and chief medical officer while Piramal Pharma Solutions has appointed a fresh COO and Formycon has added to its supervisory board.
Teva has announced a major management reshuffle that will see North America commercial vice-president Brendan O’Grady leave the company for a new role outside the pharmaceutical industry. Revealing his replacement, Teva also unveiled further changes.
Teva announced lower third quarter sales, said it would miss it's 2017 profit forecasts and acknowledged looming debt challenges. It was only CEO Kare Schultz's second day on the job.