Teva announced new organizational structureStaff writer ▼ | June 4, 2014
The changes became effective July 1st. These changes are another key step in Teva's strategic direction to create a less complex, integrated company that can address the evolving needs of patients in the global markets in the most efficient, innovative and differentiated manner possible.
All of Teva's business units will be synchronized and aligned to solidify the company's foundation, drive organic growth, and accelerate its operational network transformation and integration. This will strengthen Teva's global leadership position, while improving profitability and building the infrastructure to support a new future for the company.
Teva will is spearheaded by two commercial business units – Global Specialty Medicines (GSM), established in April 2013, and the newly-formed Global Generic Medicines group (GGM).
GGM will have full global responsibility for all existing generic markets. This includes portfolio management and selection, product launch, and commercial execution. The consolidation of Teva's regional generic businesses under one roof underscores its strong focus on, and commitment to, its generic business.
It will leverage the economies of scale of our global generic business to support organic growth, achieve operational and supply chain efficiencies, optimize portfolio selection and development, and develop new and innovative products and go-to-market models. This will be done through close collaboration and integration with Teva's Global R&D and Operations groups.
GGM will also be responsible for Teva's growing Over-the-Counter (OTC) business, led by Teva's unique joint venture with The Procter and Gamble Company.
The GSM group is responsible for Teva's global specialty medicines business. GSM will continue to drive organic growth, with a strong pipeline of patient-centric solutions, and introduce new brands through focused business initiatives. Building on existing expertise and incorporating innovative technology, the group will work to enhance patient experience in the therapeutic areas on which we will be focusing.
GGM and GSM will work closely together to realize synergies and leverage Teva's vast product portfolio in both its innovative and generics businesses. The integration between these two areas will enable Teva to create a unique and differentiated business model as a catalyst to create value over time.
The newly formed Corporate Development, Strategy and Innovation Group will have a pivotal role in positioning Teva for short and long term value creation, which will be manifested, amongst others, by its contribution to emerging market initiatives. This group will continue to be responsible for strategy and business development initiatives, while also looking for innovative business models, partnerships and technologies that deliver new solutions.
It will focus on business innovation and competitive intelligence, using advanced, structured methodologies and processes to uncover emerging scientific and technological trends.
Teva is creating a new Global Corporate Marketing Excellence and Communications Group, which will be responsible for corporate marketing excellence, brand management, corporate communications and corporate social responsibility. By tapping into Teva's unique culture and heritage, this group will build a coherent narrative for the company and enhance Teva's corporate brand story, achieving global impact with one voice and one identity.
The marketing excellence arm of this group will drive a shift toward a market-oriented approach throughout the company, centered on patients, customers and payers, while integrating the brand into the business. ■