Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) today announced the appointments of Dr. Carlo De Notaristefani as President and Chief Executive Officer of Global Operations, and Mr. Aharon (Arik) Yaari as the Executive Vice President to the newly created organization, Community and Institutional Affairs. Both Dr. De Notaristefani and Mr. Yaari will report directly to Dr. Jeremy Levin, President and Chief Executive Officer of Teva Pharmaceutical Industries and will join the Executive Team.
"We are delighted to have Carlo and Arik in these roles," said Dr. Levin. "Teva has a long history of commitment to bringing affordable medicines to patients around the world. Through its founding days in Israel the Company has prided itself on the people who have contributed to making Teva a leader in both generic and branded medicines. As part of our strategy, we are committed to recruiting a world class management team from both within the Company and by bringing in international and professional experience from the industry. Teva has a bright future, and I am confident Carlo and Arik will provide critical insight and expertise as the global healthcare market continues to evolve."
Dr. De Notaristefani will have responsibility for Teva's product supply and its manufacturing network, and ensure that the Company exceeds the highest standards in executing an integrated supply chain operation on a global level. To accomplish this, and recognizing that Quality Assurance is integral to our success, Dr. De Notaristefani will collaborate closely with Ms. Frances Zipp, Executive Vice President of Quality, who is also a member of the Executive Team, reporting to Dr. Levin. Together, these organizations will work with the goal of making Teva a benchmark of excellence in the industry.
Dr. De Notaristefani has over 25 years of international experience with extensive technical, operational, manufacturing and P&L experience. Recently, Dr. De Notaristefani was at Bristol Myers Squibb (BMS) where he served as President, Technical Operations and Global Support Functions. In this role, he was a member of the company's senior management team responsible for all manufacturing, technology and capital investments, supply chain, quality and compliance, procurement and information systems strategy and operations. During his tenure at BMS, he led one of the most successful productivity transformations within the pharmaceutical industry. Before joining BMS, Dr. De Notaristefani held several senior positions in manufacturing and supply chain at Aventis Pharmaceuticals. Earlier in his career, he was with Hoechst Marion Roussel, Marion Merrell Dow and Dow Chemical. Dr. De Notaristefani received his doctoral degree in chemical engineering, summa cum laude from University of Naples – Naples, Italy.
"I am extremely proud to join Teva, and to have the opportunity to contribute to the Company's long tradition of excellence, which was established through its Israeli heritage and today continues as it creates a global organization with a unique combination of innovation, focus and discipline in execution," stated Dr. De Notaristefani. "We will continue this practice as we begin to set the industry standard for regulatory compliance, customer service and cost effectiveness. I look forward to collaborating with Teva employees to provide unmatched value to patients, customers, and the stakeholders, together with the opportunity to grow the talent within the Company."
In addition, as part of its strategic objectives, Teva has established an organization of Community and Institutional Affairs. This organization will be led by Mr. Yaari who will execute on Teva's global commitment to social responsibility, philanthropy, institutional affairs and academic relations. Mr. Yaari will build a cohesive strategy to enhance public well-being by drawing on Teva's core competencies in developing and manufacturing products to address the unmet needs of patients in all corners of the world.
"In assuming my new role, I am excited about the opportunity to enhance Teva's involvement in communities around the globe and to expand Teva's commitment to social responsibility and philanthropy, which is an integral part of the Company's heritage," stated Mr. Yaari. "This initiative is a priority for the Company. I look forward to utilizing my global experience and deep personal interest in these efforts to lead our network of collaborations with organizations such as foundations, and academic institutions, as well as with government and international agencies."
Mr. Yaari joined Teva in 1981, and has served in significant key positions at Teva, such as Group Vice President, Global API, and most recently as Group Vice President, Teva Generics Systems. He has also held various marketing and sales positions, including those in the US and in Kenya and received his B.A. and M.A. in economics (cum laude) from the Hebrew University in 1981 and 1988, respectively.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) is a leading global pharmaceutical company, committed to increasing access to high-quality healthcare by developing, producing and marketing affordable generic drugs as well as innovative and specialty pharmaceuticals and active pharmaceutical ingredients. Headquartered in Israel, Teva is the world's leading generic drug maker, with a global product portfolio of more than 1,300 molecules and a direct presence in about 60 countries. Teva's branded businesses focus on CNS, oncology, pain, respiratory and women's health therapeutic areas as well as biologics. Teva currently employs approximately 46,000 people around the world and reached $18.3 billion in net revenues in 2011.
Teva's Safe Harbor Statement under the U. S. Private Securities Litigation Reform Act of 1995:
The following discussion and analysis contains forward-looking statements, which express the current beliefs and expectations of management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our ability to develop and commercialize additional pharmaceutical products, competition from the introduction of competing generic equivalents and due to increased governmental pricing pressures, the effects of competition on sales of our innovative medicines, especially Copaxone® (including competition from innovative orally-administered alternatives as well as from potential generic equivalents), potential liability for sales of generic medicines prior to a final resolution of outstanding patent litigation, including that relating to our generic version of Protonix®, the extent to which we may obtain U.S. market exclusivity for certain of our new generic medicines, the extent to which any manufacturing or quality control problems damage our reputation for high quality production and require costly remediation, our ability to identify, consummate and successfully integrate acquisitions (including the acquisition of Cephalon), our ability to achieve expected results through our innovative R&D efforts, dependence on the effectiveness of our patents and other protections for innovative medicines, intense competition in our specialty pharmaceutical businesses, uncertainties surrounding the legislative and regulatory pathway for the registration and approval of biotechnology-based medicines, our potential exposure to product liability claims to the extent not covered by insurance, any failures to comply with the complex Medicare and Medicaid reporting and payment obligations, our exposure to currency fluctuations and restrictions as well as credit risks, the effects of reforms in healthcare regulation and pharmaceutical pricing and reimbursement, adverse effects of political instability and adverse economic conditions, major hostilities or acts of terrorism on our significant worldwide operations, increased government scrutiny in both the U.S. and Europe of our agreements with brand companies, interruptions in our supply chain or problems with our information technology systems that adversely affect our complex manufacturing processes, the impact of continuing consolidation of our distributors and customers, the difficulty of complying with U.S. Food and Drug Administration, European Medicines Agency and other regulatory authority requirements, potentially significant impairments of intangible assets and goodwill, potential increases in tax liabilities resulting from challenges to our intercompany arrangements, the termination or expiration of governmental programs or tax benefits, any failure to retain key personnel or to attract additional executive and managerial talent, environmental risks, and other factors that are discussed in our Annual Report on Form 20-F for the year ended December 31, 2011, in this report and in our other filings with the U.S. Securities and Exchange Commission ("SEC"). Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update any forward-looking statements or other information contained in this report, whether as a result of new information, future events or otherwise. You are advised, however, to consult any additional disclosures we make in our reports to the SEC on Form 6-K. Also note that we provide a cautionary discussion of risks and uncertainties under "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2011. These are factors that we believe could cause our actual results to differ materially from expected results. Other factors besides those listed could also adversely affect us. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995.
Teva Pharmaceutical Industries Ltd.
Kevin C. Mannix, (215) 591-8912
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