Teva Appoints New Global Generics Head Amid Massive Integration
Just months after Teva closed the $40.5bn acquisition of Allergan Generics, the company said the man expected to lead the integration, Siggi Olafsson, will step down and be succeeded by Dipankar Bhattacharjee.
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Teva is expecting to have a new CEO by the end of next year, after current leader Kåre Schultz indicated that he was unlikely to renew his contract. The president and chief executive has overseen an eventful and transformative period for the Israeli firm.
Teva CEO Erez Vigodman said the company will step away from business development for the “foreseeable future” while it digests the acquisition of Allergan’s generic drug business.
The world’s generic drug leader has cemented its leadership position for the foreseeable future with the acquisition of Allergan’s generics business. Management outlined how it plans to grow the combined business by taking advantage of its size during an investor briefing.