Dr. Sol J. Barer joins the Board
JERUSALEM -- (Business Wire)
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) today announced that the
Board of Directors has elected Professor Yitzhak Peterburg as Chairman,
effective January 1, 2015. Prof. Peterburg, a member of the Board since
2012 and from 2009-2010, will succeed Dr. Phillip Frost, who previously
announced plans to step down as Chairman by the end of the year. Dr.
Frost has also informed the Board that he will not stand for reelection
as a director at the upcoming annual general meeting.
Additionally, the Board appointed Dr. Sol J. Barer as a director, also
effective January 1, 2015. The Board remains committed to its previous
statements regarding the size and composition of the Board.
“After an extensive international search, the Board determined that
Yitzhak is best placed to provide the leadership and vision we need to
strengthen Teva’s position as a global player in the pharmaceutical
industry,” said Dr. Frost. “His vast experience and deep understanding
of Teva and its potential, as well as his extensive experience in
running large healthcare systems, make Yitzhak an excellent choice to
succeed me as Chairman at this juncture in the company’s transformation
for the future.”
“The Board is deeply grateful to Dr. Frost for his contributions,
insight and commitment to Teva during this period of growth and
opportunity for the company,” said Prof. Peterburg. “I am honored to
assume the role of Chairman, and look forward to working closely with
the Board, including President and CEO, Erez Vigodman, and the entire
management team, to continue to drive value for Teva’s shareholders
while increasing access to high-quality healthcare around the world.”
“I am also pleased that Dr. Sol Barer will join the Board and contribute
his outstanding global pharmaceutical expertise,” added Prof. Peterburg.
“The Board has made its composition a priority, as demonstrated by the
addition of Sol, as well as Jean-Michel Halfon earlier this year.”
Biographical details
Prof. Yitzhak Peterburg
Prof. Yitzhak Peterburg rejoined Teva’s Board of Directors in 2012. He
was Teva’s Senior Vice President—Global Branded Products, in charge of
innovative drugs, R&D and pipeline asset management from 2010-2011,
after serving on Teva’s Board of Directors from 2009-2010.
Prof. Peterburg served as President and CEO of Cellcom Israel Ltd., a
leading telecommunications enterprise in Israel, from 2003-2005. From
1997-2002, he served as CEO of Clalit Health Services, the leading
healthcare provider (HMO) in Israel, considered to be the second largest
in the world, providing comprehensive health services to 55% of the
Israeli population, through more than 1,500 primary and secondary
clinics and 14 hospitals with approximately 45,000 employees. He led the
digitizing of Clalit Health Services, including 100% Electronic Health
Records (EHR) coverage and one of the first health information exchange
systems in the world, and pioneered telemedicine in Israel. Between 2000
and2002, he was a board member at the International Federation of Health
Plans (iFHP) and vice-chairman of the Association International de la
Mutualite (AIM). Between 1990 and 1997, he held several managerial
positions in the healthcare field, including CEO of the Soroka
University Medical Center in Beer-Sheva. Prof. Peterburg currently
serves as a director on the board of Rosetta Genomics Ltd.
Prof. Peterburg received an M.D. degree from Hadassah Medical School in
1977 and is board-certified in Pediatrics and Health Services
Management. Prof. Peterburg received a Doctorate degree in Health
Services Administration from Columbia University in 1987 and an M.Sc.
degree in Information Systems from the London School of Economics in
1991. Between 2009 and 2010, he served as Senior Fellow at the Milken
Institute. He is a professor at the School of Business, Ben-Gurion
University.
Dr. Sol J. Barer
Dr. Barer is Managing Partner at SJ Barer Consulting. From 1987-2011, he
served in top leadership roles at Celgene Corporation, including as
Executive Chairman (2010-2011), Chairman and CEO (2007-2010), CEO
(2006-2010), President and Chief Operating Officer (1994-2006) and
President (1993-1994). Earlier in his career, he was a founder of the
biotechnology group at the chemical company Celanese Corporation, which
was later spun off as Celgene.
Dr. Barer currently serves on the board of a number of other
biotechnology companies, including Amicus Therapeutics and Aegerion
Pharmaceuticals. Dr. Barer is Chairman of the Board of InspireMD and
Medgenics. Dr. Barer received his PhD in organic and physical chemistry
from Rutgers University in 1974 and his BS in Chemistry from Brooklyn
College of the City University of New York in 1968.
About Teva
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
1,000 molecules and a direct presence in approximately 60 countries.
Teva's Specialty Medicines businesses focus on CNS, respiratory,
oncology, pain, and women's health therapeutic areas as well as
biologics. Teva currently employs approximately 45,000 people around the
world and reached $20.3 billion in net revenues in 2013.
Safe Harbor Statement under the U.S. Private Securities Litigation
Reform Act of 1995:
This release contains forward-looking statements, which are based on
management’s current beliefs and expectations and 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 for our innovative products, especially COPAXONE®
(including competition from orally-administered alternatives, as well as
from potential purported generic equivalents); the possibility of
material fines, penalties and other sanctions and other adverse
consequences arising out of our ongoing FCPA investigations and related
matters; our ability to achieve expected results from the research and
development efforts invested in our pipeline of specialty and other
products; our ability to reduce operating expenses to the extent and
during the timeframe intended by our cost reduction program; our ability
to identify and successfully bid for suitable acquisition targets or
licensing opportunities, or to consummate and integrate acquisitions;
the extent to which any manufacturing or quality control problems damage
our reputation for quality production and require costly remediation;
our potential exposure to product liability claims that are not covered
by insurance; increased government scrutiny in both the U.S. and Europe
of our patent settlement agreements; our exposure to currency
fluctuations and restrictions as well as credit risks; the effectiveness
of our patents, confidentiality agreements and other measures to protect
the intellectual property rightsof our specialty medicines;the
effects of reforms in healthcare regulation and pharmaceutical pricing,
reimbursement and coverage; governmental investigations into sales and
marketing practices, particularly for our specialty pharmaceutical
products; uncertainties related to our recent management changes;the
effects of increased leverage and our resulting reliance on access to
the capital markets; any failure to recruit or retain key personnel, or
to attract additional executive and managerial talent; adverse effects
of political or economical instability, major hostilities or acts of
terrorism on our significant worldwide operations; interruptions in our
supply chain or problems with internal or third-party information
technology systems that adversely affect our complex manufacturing
processes; significant disruptions of our information technology systems
or breaches of our data security;competition for our generic
products, both from other pharmaceutical companies and as a result of
increased governmental pricing pressures; competition for our specialty
pharmaceutical businesses from companies with greater resources and
capabilities; decreased opportunities to obtain U.S. market exclusivity
for significant new generic products; potential liability in the U.S.,
Europe and other markets for sales of generic products prior to a final
resolution of outstanding patent litigation; any failures to comply with
complex Medicare and Medicaid reporting and payment obligations; the
impact of continuing consolidation of our distributors and customers;
significant impairment charges relating to intangible assets and
goodwill; potentially significant increases in tax liabilities; 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; variations in patent laws that may adversely affect our
ability to manufacture our products in the most efficient manner;
environmental risks; and other factors that are discussed in our Annual
Report on Form 20-F for the year ended December 31, 2013 and in our
other filings with the U.S. Securities and Exchange Commission.
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
statement, whether as a result of new information, future events or
otherwise.
Contacts:
Teva Pharmaceutical Industries Ltd.
IR:
Kevin C. Mannix,
215-591-8912
United States
or
Ran Meir, 215-591-3033
United
States
or
Tomer Amitai, 972 (3) 926-7656
Israel
or
PR:
Iris
Beck Codner, 972 (3) 926-7246
Israel
or
Denise Bradley,
215-591-8974
United States
Source: Teva Pharmaceutical Industries Ltd.
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