Teva Announces New Head of Business Development, Strategy and Innovation
Timothy R. Wright joins Teva as Executive Vice President, Business Development, Strategy and Innovation
JERUSALEM--(BUSINESS WIRE)--Mar. 23, 2015-- Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) today announced the appointment of Timothy R. Wright to the Company's executive leadership team, heading business development, strategy and innovation. In this new role, Mr. Wright will be responsible for identifying new sources of innovation and growth that are extensions of Teva's business model. Mr. Wright's appointment will be effective April 13, 2015, and he will report directly to the President and CEO, Erez Vigodman.
"The addition of Tim to our leadership team complements the strong management capabilities we have in Teva. He has a wealth of global experience which will serve us well as we look to create a new and exciting future for Teva," stated Erez Vigodman, Teva's President and CEO. "Tim is known for leading the transformation of large companies. His significant experience across various aspects of healthcare and unique perspective will enable us to realize our full potential at this critical time of change in the pharmaceutical industry."
"I am excited to join Teva at such a transformative time for both the company and industry in general," stated Mr. Wright. "It's a rare opportunity to join a company that is brave enough to look for bold ways to create a new future. I feel privileged to have the ability to work with this leadership team to create value for our shareholders and make a significant impact in healthcare for people around the world."
Key Biographical Details
Timothy R. Wright has almost 30 years of global experience in pharmaceuticals and biotech with a career that has included such roles as Chief Executive Officer, Head of Business Development and Strategy and Head of Global Operations, and has worked extensively in partnership with academia. Most recently, he was the Director of the Drug Discovery and Development Institute at The Ohio State University Comprehensive Cancer Center, where he conceptualized and operationalized the institute, and established external networks that served to accelerate drug development activities and created partnerships among pharmaceutical companies that worked to augment development.
Mr. Wright has also served previously as President of Covidien Pharmaceuticals from 2007-2010, where among other key achievements; he delivered year-over-year improvement in revenue growth, gross margin expansion, operating income and return on invested capital. He was CEO (Interim) & President, a member of the Board of Directors and Chief Operating Officer (2004-2007) at AAI Pharmaceuticals/Xanodyne. He also held roles at Elan Pharmaceuticals, President, Global Operations (2001 - 2004) and President, Europe, Japan & ROW, Executive Vice President, Business Development & Licensing (2001 - 2002); DuPont Merck Pharmaceutical Company (where he worked from 1984 - 1999) and held roles such as Senior Vice President, Strategy & Corporate Business Development (1996 - 1999), Vice President, Strategic Marketing & Operations - Europe (1995 - 1996).
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a leading global pharmaceutical company that delivers high-quality, patient-centric healthcare solutions to millions of patients every day. Headquartered in Israel, Teva is the world's largest generic medicines producer, leveraging its portfolio of more than 1,000 molecules to produce a wide range of generic products in nearly every therapeutic area. In specialty medicines, Teva has a world-leading position in innovative treatments for disorders of the central nervous system, including pain, as well as a strong portfolio of respiratory products. Teva integrates its generics and specialty capabilities in its global research and development division to create new ways of addressing unmet patient needs by combining drug development capabilities with devices, services and technologies. Teva's net revenues in 2014 amounted to $20.3 billion. For more information, visit www.tevapharm.com.