Teva Announces Planned Departure of Eyal Desheh, Group Executive Vice President and Chief Financial Officer
April 26 2017 - 9:02AM
Business Wire
Teva Pharmaceutical Industries Ltd. (NYSE and TASE:TEVA) today
confirmed that Eyal Desheh, Group Executive Vice President, Chief
Financial Officer, will depart from Teva during the coming months.
The Company will immediately commence a search to identify a
successor to serve as Chief Financial Officer. Mr. Desheh will take
part in the company’s upcoming Q1 earnings call on May 11th.
Mr. Desheh, 65, became Group Executive Vice President, Chief
Financial Officer in 2008. From October 2013 to February 2014, Mr.
Desheh served as Acting President and Chief Executive Officer.
Earlier in his career, from 1989 to 1996, he served as Teva’s
Deputy Chief Financial Officer.
Dr. Yitzhak Peterburg, Interim President and CEO of Teva,
stated, “Eyal has helped Teva grow into a leading global
pharmaceutical company. The management team and I would like to
thank Eyal for his many contributions, as well as his continued
support during the transition.”
Eyal Desheh stated, “Yesterday, I celebrated my 65th birthday
and I’m transitioning into the next phase of my career. It has been
a privilege to serve for many years as Teva’s CFO alongside its
exceptional management team and world-class employees. When I look
back on my career with Teva, I am very proud of what we have
accomplished as a Company. I look forward to working to ensure a
seamless transition as Teva continues executing for shareholders in
2017.”
Dr. Sol J. Barer, Chairman of the Board of Directors, stated,
“My highest priority is to identify and appoint Teva’s next Chief
Executive Officer. We expect the Company’s new CEO to have a
significant role in identifying Eyal’s successor.”
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a
leading global pharmaceutical company that delivers high-quality,
patient-centric healthcare solutions used by approximately 200
million patients in 100 markets every day. Headquartered in Israel,
Teva is the world’s largest generic medicines producer, leveraging
its portfolio of more than 1,800 molecules to produce a wide range
of generic products in nearly every therapeutic area. In specialty
medicines, Teva has the world-leading innovative treatment for
multiple sclerosis as well as late-stage development programs for
other disorders of the central nervous system, including movement
disorders, migraine, pain and neurodegenerative conditions, as well
as a broad portfolio of respiratory products. Teva is leveraging
its generics and specialty capabilities in order to seek new ways
of addressing unmet patient needs by combining drug development
with devices, services and technologies. Teva's net revenues in
2016 were $21.9 billion. For more information, visit
www.tevapharm.com.
Teva’s Safe Harbor Statement under the U. S. Private
Securities Litigation Reform Act of 1995
This press release contains forward-looking statements, 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. Important factors that could
cause or contribute to such differences include risks relating to:
our generics medicines business, including: that we are
substantially more dependent on this business, with its significant
attendant risks, following our acquisition of Actavis Generics; our
ability to realize the anticipated benefits of the acquisition (and
any delay in realizing those benefits) or difficulties in
integrating Actavis Generics; the increase in the number of
competitors targeting generic opportunities and seeking U.S. market
exclusivity for generic versions of significant products; price
erosion relating to our generic products, both from competing
products and as a result of increased governmental pricing
pressures; and our ability to take advantage of high-value
biosimilar opportunities; our specialty medicines business,
including: competition for our specialty products, especially
Copaxone®, our leading medicine, which faces competition from
existing and potential additional generic versions and
orally-administered alternatives; our ability to achieve expected
results from investments in our product pipeline; competition from
companies with greater resources and capabilities; and the
effectiveness of our patents and other measures to protect our
intellectual property rights; our substantially increased
indebtedness and significantly decreased cash on hand, which may
limit our ability to incur additional indebtedness, engage in
additional transactions or make new investments, and may result in
a downgrade of our credit ratings; our business and operations in
general, including: uncertainties relating to our recent senior
management changes; our ability to develop and commercialize
additional pharmaceutical products; manufacturing or quality
control problems, which may damage our reputation for quality
production and require costly remediation; interruptions in our
supply chain; disruptions of our information technology systems or
breaches of our data security; the failure to recruit or retain key
personnel, including those who joined us as part of the Actavis
Generics acquisition; the restructuring of our manufacturing
network, including potential related labor unrest; the impact of
continuing consolidation of our distributors and customers;
variations in patent laws that may adversely affect our ability to
manufacture our products; adverse effects of political or economic
instability, major hostilities or terrorism on our significant
worldwide operations; and our ability to successfully bid for
suitable acquisition targets or licensing opportunities, or to
consummate and integrate acquisitions; compliance, regulatory and
litigation matters, including: costs and delays resulting from the
extensive governmental regulation to which we are subject; the
effects of reforms in healthcare regulation and reductions in
pharmaceutical pricing, reimbursement and coverage; potential
additional adverse consequences following our resolution with the
U.S. government of our FCPA investigation; governmental
investigations into sales and marketing practices; potential
liability for sales of generic products prior to a final resolution
of outstanding patent litigation; product liability claims;
increased government scrutiny of our patent settlement agreements;
failure to comply with complex Medicare and Medicaid reporting and
payment obligations; and environmental risks; other financial
risks, including: our exposure to currency fluctuations and
restrictions as well as credit risks; the significant increase in
our intangible assets, which may result in additional substantial
impairment charges; potentially significant increases in tax
liabilities; and the effect on our overall effective tax rate of
the termination or expiration of governmental programs or tax
benefits, or of a change in our business; and other factors
discussed in our Annual Report on Form 20-F for the year ended
December 31, 2016 (“Annual Report”) and in our other filings with
the U.S. Securities and Exchange Commission (the “SEC”).
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 advised to consult any additional disclosures we make in
our reports to the SEC on Form 6-K, as well as the cautionary
discussion of risks and uncertainties under “Risk Factors” in our
Annual Report. These are factors that we believe could cause our
actual results to differ materially from expected results. Other
factors besides those listed could also materially and adversely
affect us. This discussion is provided as permitted by the Private
Securities Litigation Reform Act of 1995.
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version on businesswire.com: http://www.businesswire.com/news/home/20170426005803/en/
Teva Pharmaceutical Industries Ltd.IR Contacts:United
StatesKevin C. Mannix, 215-591-8912orRan Meir,
215-591-3033orIsraelTomer Amitai, 972 (3) 926-7656orPR
Contacts:IsraelIris Beck Codner, 972 (3) 926-7208orUnited
StatesDenise Bradley, 215-591-8974
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