Teva appoints new CEO for Teva api, its Active Pharmaceutical Ingredients Business
TEL AVIV, Israel--(BUSINESS WIRE)-- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today announced the appointment of Dr. R. Ananthanarayanan (Ananth) as CEO of its Teva Active Pharmaceutical Ingredients business (Teva api). Dr. Ananth will lead the API business starting November 27, 2023, and will be based out of Teva's U.S. headquarters in Parsippany, NJ.
Richard Francis, Teva’s President and CEO said: “I am excited to welcome Ananth back to Teva to lead the Teva api business during this pivotal time for our company, as we continue to progress on our plan for turning Teva api into a standalone business. We’re confident that this strategy will result in a more focused end-to-end operation, and I am confident that Ananth's extensive knowledge of both Teva and the industry landscape will be an invaluable asset to drive growth, maximize current and potential revenue streams, and better serve customers and patients."
Dr. Ananth joins Teva with over 34 years of experience leading global API businesses in external sales, internal operations and in contract development and manufacturing operations. He will lead Teva api through its transformation to a standalone business, which plays a critical part in Teva's Pivot to Growth strategy announced in May 2023. Having led the former Teva api and Biologics Operations organization at Teva from 2014 to 2018, Dr. Ananth has a deep understanding of Teva’s API business.
Prior to joining Teva, Dr. Ananth previously served as Chief Executive Officer of a portfolio company of a global leading private equity firm, and a leading Contract Development and Manufacturing Organization (CDMO) for large scale production of Active Ingredients (Agro), electronic chemicals, specialty chemicals and intermediates for agro, pharma, dyes & pigments. Prior to this, he served as Chief Executive Officer of Strides Pharma Science Limited, a global generic pharmaceutical company, and as Chief Operating Officer at Cipla Limited. Earlier in his career, Ananth held various leadership positions leading operations, business development and P&L in the global pharmaceutical industry including at Piramal and Dr Reddy’s Laboratories Limited.
Dr. Ananth stated, “I am very excited to return to Teva to lead the API business, and to join my esteemed colleagues and teams at Teva api – old and new. I have confidence in the strategic vision set out by Richard Francis and the Teva executive leadership team to create a more focused end-to-end operation poised to return to growth and create more impact and value for Teva and the patients we serve worldwide."
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and innovative medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative medicines research and operations supporting our growing portfolio of innovative medicines and biopharmaceutical products.
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to successfully launch and execute our new Pivot to Growth strategy including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, to sustain and focus our portfolio of generics medicines and to turn our Teva API business into a stand-alone unit; our ability to attract, hire, integrate and retain highly skilled personnel; our substantial indebtedness; our business and operations in general, including: the impact of global economic conditions and other macroeconomic developments and the governmental and societal responses thereto; compliance, regulatory and litigation matters, including: failure to comply with complex legal and regulatory environments; other financial and economic risks; and other factors discussed in this press release, in our Quarterly Report on Form 10-Q for the second quarter of 2023 and in our Annual Report on Form 10-K for the year ended December 31, 2022, including in the sections captioned "Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
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Source: Teva Pharmaceutical Industries Limited