Teva Appoints John Nason President, TAPI and Biologics Operations
Teva announced the appointment of John Nason to President, Teva Active Pharmaceutical Ingredients (TAPI), a role in which he leads the company’s vertically integrated business unit responsible for the development, manufacture, marketing and sales of bulk API for both third-party manufacturers and for Teva. Nason also assumes responsibility for the company’s biologics operations, which play an important role in the company’s long-term strategy. He will be based at Teva’s global headquarters in Petach Tikva, Israel, and reports directly to Carlo de Notaristefani, Executive Vice President, Teva Global Operations.
“John’s deep technical expertise and strong track record distinguish him as a global leader who is exceptionally qualified for this pivotal role,” said de Notaristefani. “I am confident in John’s ability to strengthen and grow these vital business assets for Teva and fully realize their potential to help patients and deliver for our customers around the world.”
Nason joined Teva in 2015 as Senior Vice President of European Technical Operations and worked closely with the company’s commercial and R&D organizations to meet customer and patient needs while closely managing the competitiveness of the product portfolio. In that position, Nason was an active member of the operations leadership team responsible for setting strategy and managing Teva’s global operations, a role he will retain as President of TAPI and Teva’s biologics operations.
Prior to joining Teva, John served in a variety of senior leadership roles at Bristol-Myers Squibb (BMS) where, over a period of 12 years, he led their global API organization and third-party operations. Prior to that, John worked at Novartis where he led bulk API manufacturing operations in Ireland and, earlier in his career, John held technical transfer, engineering and project management roles at Sandoz in the U.S. on the design of a greenfield API site.
A native of Ireland, John holds a Bachelor of Science degree in Chemistry from University College Cork, and a Master of Business Administration from the University of Limerick.
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a global leader in generic medicines, with innovative treatments in select areas, including CNS, pain and respiratory. We deliver high-quality generic products and medicines in nearly every therapeutic area to address unmet patient needs. We have an established presence in generics, specialty, OTC and API, building on more than a century-old legacy, with a fully integrated R&D function, strong operational base and global infrastructure and scale. We strive to act in a socially and environmentally responsible way. Headquartered in Israel, with production and research facilities around the globe, we employ 45,000 professionals, committed to improving the lives of millions of patients. Learn more at www.tevapharm.com.
With the largest portfolio of API molecules in the industry, TAPI is the leading worldwide supplier of APIs with nearly 1,100 customers in more than 100 countries, including 80 percent of the top 50 global pharmaceutical companies. We were established in Israel in 1935 and today maintain a strong global presence with more than 5,000 colleagues at 24 facilities in 13 countries in R&D, regulatory, manufacturing, quality and commercial operations. We partner with our customers through every step of the API journey, from supplier selection and development to commercialization, and offer a wide range of technologies, deep technical and regulatory expertise, and high standards of quality and compliance. Learn more at www.tapi.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, including: that we are substantially dependent on our generic products; competition for our specialty products, especially COPAXONE®, our leading medicine, which faces competition from existing and potential additional generic versions and orally-administered alternatives; competition from companies with greater resources and capabilities; efforts of pharmaceutical companies to limit the use of generics including through legislation and regulations; consolidation of our customer base and commercial alliances among our customers; the increase in the number of competitors targeting generic opportunities and seeking U.S. market exclusivity for generic versions of significant products; price erosion relating to our products, both from competing products and increased regulation; delays in launches of new products and our ability to achieve expected results from investments in our product pipeline; our ability to take advantage of high-value opportunities; the difficulty and expense of obtaining licenses to proprietary technologies; and the effectiveness of our patents and other measures to protect our intellectual property rights;
- our substantially increased indebtedness and significantly decreased cash on hand, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments, may result in a further downgrade of our credit ratings; and our inability to raise debt or borrow funds in amounts or on terms that are favorable to us;
- our business and operations in general, including: failure to effectively execute our restructuring plan announced in December, 2017; uncertainties related to, and failure to achieve, the potential benefits and success of our new senior management team and organizational structure; harm to our pipeline of future products due to the ongoing review of our R&D programs; our ability to develop and commercialize additional pharmaceutical products; potential additional adverse consequences following our resolution with the U.S. government of our FCPA investigation; compliance with sanctions and other trade control laws; manufacturing or quality control problems, which may damage our reputation for quality production and require costly remediation; interruptions in our supply chain; disruptions of our or third party information technology systems or breaches of our data security; the failure to recruit or retain key personnel; variations in intellectual property laws that may adversely affect our ability to manufacture our products; challenges associated with conducting business globally, including adverse effects of political or economic instability, major hostilities or terrorism; significant sales to a limited number of customers in our U.S. market; our ability to successfully bid for suitable acquisition targets or licensing opportunities, or to consummate and integrate acquisitions; and our prospects and opportunities for growth if we sell assets ;
- compliance, regulatory and litigation matters, including: costs and delays resulting from the extensive governmental regulation to which we are subject; the effects of reforms in healthcare regulation and reductions in pharmaceutical pricing, reimbursement and coverage; governmental investigations into sales and marketing practices; potential liability for patent infringement; product liability claims; increased government scrutiny of our patent settlement agreements; failure to comply with complex Medicare and Medicaid reporting and payment obligations; and environmental risks;
- other financial and economic risks, including: our exposure to currency fluctuations and restrictions as well as credit risks; potential impairments of our intangible assets; potential significant increases in tax liabilities; and 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;
and other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2017, including in the section captioned “Risk Factors,” and in our other filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov and www.tevapharm.com. 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.
Teva Pharmaceutical Industries Ltd.
Yonatan Beker, 972 (54) 888-5898
Grace Ann Arnold, +1 201-739-2064