“I Think People are Starting to Get That There’s a Lot of Upside at Teva”

Evan Lippman, Teva’s Executive Vice President of Business Development

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January 15, 2026

Evan Lippman, Teva’s Executive Vice President of Business Development (BD) since March 2025, talks about his team’s role in driving the company’s Pivot to Growth strategy by complementing excellent internal science with targeted external innovation. A veteran of pharma companies large and small, Evan also shares why he chose Teva as his next career move.

Teva is a place where I feel Business Development can make a core contribution to accelerating growth. What I most wanted to know before joining Teva was whether I would have the opportunity to do more than just execute deals—to truly help shape the company’s future. Once I was confident that BD would be a key contributor in transforming Teva from a leader in generics and biosimilars to a true innovator committed to sustained, accelerated growth, I considered this a once-in-a-lifetime opportunity.

The Strategy & Vision

Our CEO, Richard Francis, has laid out a bold ambition that’s outlined in Teva’s Pivot to Growth strategy. Its aim is to accelerate innovation, strengthen our pipeline, and expand operating margins over the next few years. That sets the stage for Business Development to play a unique role. Internal R&D is essential, but it takes years for a program to move from discovery through late-stage development. BD can compress the timeline by bringing external innovation into the company within months and creating immediate impact. Realistically, Teva doesn’t possess everything we need internally to realize our ambitious growth plans. And that makes BD’s role all the more important.

My vision is to turn BD into a self-sustaining growth engine for Teva. I want to see Richard at JP Morgan and other major healthcare investment conferences not only showcasing the remarkable progress of our internal pipeline, but also announcing products sourced through BD that reflect a chain reaction of innovation and momentum.

But this isn’t about BD alone. The real strength comes when strategic partnerships build upon the incredible internal pipeline already being advanced by our R&D colleagues, as well as our commercial strengths and expertise. We’re seeing the pipeline move forward with three large Phase 3 programs that are being studied across schizophrenia, asthma, ulcerative colitis and Crohn’s disease. If approved, these programs have the potential to advance treatment options in areas of significant unmet need. So, everybody is working in tandem to show benefit and bring these programs to fruition. Coming into this kind of environment, I feel we can really change the trajectory of this company.

I firmly believe leadership is about showing what’s possible, making it tangible, and moving toward that future. When we focus on the possibilities, we can achieve more than we think.

The Teva BD Difference

There are probably two key differences between the way we approach business development versus our competitors. One is that we look at innovation more broadly. Our competitors might say, for example, they need a novel mechanism that’s first in class. Our definition is broader and includes other types of patient benefit. This can mean finding new ways to improve quality of life, whether through scientific breakthroughs or smarter product design.

For example, we’re exploring a long-acting injectable formulation for an existing medication that, if approved, could offer additional options for patients and caregivers. What sets us apart is our strategic focus on areas where we believe we can win — selecting opportunities that are at the right stage, have the right fit, and offer strong potential for meaningful impact.

We’re also adaptable to different situations and open to innovative structures. We don’t take a command-and-control approach. We don’t have to be in charge of everything, and we prioritize flexibility and speed.

The Deals We’re Targeting

With our broad and adaptable approach to BD, Teva is looking for a variety of deals. These include in-licensing and collaborations in our core therapeutic areas (TAs) of neuroscience and immunology. Specifically, we’re interested in central nervous system (CNS), inflammatory diseases, respiratory diseases, and some rare diseases. We’ll consider a range of transaction structures, including asset and bolt-on acquisitions, but we’re not looking for transformational acquisitions right now.

The Talent Hunt

Teva BD is new and still building, so attracting and developing great talent is a top priority. Because we’re small and nimble, I look for people who bring strong credentials and a clear sense of how to contribute within their function, while operating with agility and collaboration across the broader BD landscape. We succeed when all team members understand their roles — whether in search, alliance management or analytics — and work seamlessly with others to advance opportunities. I value intellectual curiosity and a proactive mindset because there will always be countless reasons not to do a deal, and our job is to find the path forward, while creating value for patients and our shareholders. I firmly believe leadership is about showing what’s possible, making it tangible, and moving toward that future. When we focus on the possibilities, we can achieve more than we think.

The Next Chapter

The powerful combination of internal science fueled by external innovation will define Teva’s next chapter. We’re evolving from a generics business with an innovative portfolio into a leading, innovation-driven biopharmaceutical company that also happens to have one of the world’s most trusted generics platforms. Given the large milestone anniversary that Teva will be celebrating this year, some people are starting to call us a "125-year-old startup!" And it fits. We have a foundation that gives us scale, scientific depth, and market insight that few can match, and, at the same time, our R&D enterprise has the culture and innovative spirit of a fledgling biotech. So from a potential partner’s perspective, Teva offers the best of both worlds: the resilience and reach of a global generics leader, combined with the upside potential of an emerging innovator. It’s a story of transformation built on strength—and investors are starting to recognize just how much opportunity lies ahead.

I want people to know that we’re here to play and in the game to win. As of November 2025, we’re coming off 11 consecutive quarters of solid growth. People haven’t seen that from Teva in the recent past, but they’re going to see a lot more of it in the coming years. And I’m eager to be a part of that.

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