Processing Magazine

New Teva CEO plans to shift focus to branded drugs

January 4, 2012

ERUSALEM — Teva Pharmaceutical Industries new CEO Jeremy Levin said he plans to shift the company’s focus from generics to branded drugs, The Economic Times reported.

Levin, a former senior executive at Bristol-Myers Squibb Co., will take over at Teva in May.

Teva’s shares jumped 3.3. percent on the news Monday in Tel Aviv, the article stated.

"I have a deep philosophy in that medicines are medicines. It does not matter whether they are branded or generic," Levin said. "The key question is can you make them affordable and can you provide them to patients."