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Teva Pharmaceutical Industries Ltd (NYSE:TEVA) Reports New Organization Structure

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Teva Pharmaceutical Industries Ltd (NYSE:TEVA) reported a new organization structure intended to achieve improved commercial focus and enhance value creation. This new structure will allow strategic alignment across the regions, across portfolios and between functions, enhancing agility, leveraging scale, extracting efficiencies and offering better proximity to the markets. The new structure will become effective immediately.

The details

Kåre Schultz, the CEO and President of Teva, expressed that they are taking immediate and decisive action to address internal inefficiencies and external pressures. Their new firm structure will allow stronger integration and alignment between operations, R&D and the commercial regions, enabling them to become a leaner, more profitable and agile firm. Schultz added that they will focus on leading sustainable value creation. The new team will position company for improvement in the short to medium period. They are already working on a comprehensive restructuring plan for company and will disclose it in mid-December.

It continues to be their absolute priority to stabilize Teva’s cash flow and operating profit in order to enhance their financial situation, while being concentrated on short-term cash generation and revenue, and at the same time, confirm that they deliver on their commitment to offer high-quality drugs to patients across the globe.

The commercial business will not have two distinct international groups for specialty medicines and generics, and will be integrated into single commercial firm, functioning through three regions, Europe, North America and Growth Markets. These regions will look after the entire portfolio, including specialty, OTC and generics with comprehensive P&L accountability.

The former Specialty R&D and Generic R&D firms will be integrated into one international group with overall responsibility for all Research & Development activities, specialty, biologics and generic, maximizing return on investment through improved efficiency and focus. A newly established Marketing & Portfolio function will be accountable for looking after the interface between regions, operations and R&D throughout all PLC stages and optimizing specialty and generic portfolios across the therapeutic segments.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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