Teva is undergoing an overhaul as of July 1. Among the changes announced Monday were the creation of a Global Generics Medicines group, which will handle launch and commercialization of its generics portfolio, as well as its over-the-counter business. Former Actavis president Sigurder Olafsson will head this new division.
Additional changes include a new Corporate Development Strategy and Innovation Group, and a new Global Corporate Marketing Excellence and Communications Group.
Teva, which recently found out it will soon navigate a world with generic Copaxone medications, has been facing a series of challenges, including a tumultuous leadership period which capped 2013. The company said in a statement that these changes “are another key step in Teva's strategic direction to create a less complex, integrated company.”