Teva Announces United States Department of Commerce Appointment of Brendan O’Grady to Investment Advisory Council
Teva Pharmaceutical Industries (NYSE and TASE: TEVA) today announced that the U.S. Department of Commerce has selected Brendan O’Grady, Executive Vice President and Head of North America Commercial to serve on the U.S. Investment Advisory Council. The Council is a 25-member panel of national experts who will counsel and advise Secretary of Commerce Wilbur Ross on attracting and retaining foreign direct investment in the U.S.
O’Grady’s appointment reflects recognition of his deep expertise spanning more than 28 years in the pharmaceutical industry.
“I am honored to be selected to serve on the Council and provide a unique perspective on the impact and value of foreign direct investment on the pharmaceutical industry in the U.S.,” says O’Grady. “This is especially important as foreign investments can affect domestic innovation for new therapies and help ensure a strong supply chain for safe, effective and lower cost generic therapies.”
Chartered in 2016, the U.S. Investment Advisory Council makes recommendations on infrastructure investment priorities, workforce development initiatives, and groundbreaking strategies to support economic development through new digital tools. Collectively, those recommendations are mobilized to generate additional foreign direct investment in the U.S.
O’Grady is also a current member of the board of directors and the compensation committee chair for American Well, a leading U.S. based telemedicine company, and is a Board Member of the Association for Accessible Medicines which represents the generic and biosimilar industries in the U.S.
Established in Israel in 1901, Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products. Learn more at www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that 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 successfully compete in the marketplace; our substantial indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Reports on Form 10-Q for the first and second quarter of 2019 and in our Annual Report on Form 10-K for the year ended December 31, 2018, including in the sections captioned "Risk Factors” and “Forward Looking Statements.” 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 statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
Kevin C. Mannix (215) 591-8912
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