New Teva CEO’s Initial Priorities Are Manufacturing, Copaxone, R&D
Teva’s new CEO, Jeremy Levin, has been emphasizing manufacturing efficiency, global compliance and a more focused R&D structure in initial comments to Wall Street.
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In a hastily scheduled, between-quarters update, Teva takes down its 2012 guidance issued only five months ago. New CEO Jeremy Levin promises a full strategic rendering by year end, announces long-time Teva exec Allan Oberman as new head of U.S. generics and establishment of a global compliance committee.
Several new drugs for multiple sclerosis could launch within the next two years, but amid escalating drug costs, payors are taking a harder look at the therapeutic category. New drugs will face increasing reimbursement hurdles, as payors implement the first prior authorization and step therapy protocols and look for ways to implement further cost reductions.
Jeremy Levin, who left Bristol-Myers Squibb on Jan. 1, will succeed outgoing Teva CEO Shlomo Yanai in May, as the Israeli generics giant seeks to increase its emphasis on branded drugs.