TEL AVIV – Teva Pharmaceutical Industries Ltd. (NYSE:TEVA), a leading global pharmaceutical company, has announced the appointment of Matthew Shields as the Executive Vice President of Teva Global Operations (TGO), effective June 3, 2024. Shields will be succeeding Eric Drapé, who is departing after more than a decade with the company.
Shields brings over 25 years of experience in the biopharmaceutical and animal health industries to his new role at Teva. His career includes significant leadership positions at Merck Animal Health, Sanofi (NASDAQ:SNY), and Amgen (NASDAQ:AMGN). Most recently, he served as Senior Vice President for Animal Health Manufacturing at Merck, where he managed end-to-end manufacturing and supply chain operations.
In his new position, Shields will join Teva's Executive Leadership Team and report to President and CEO Richard Francis. He will be based out of the company’s U.S. headquarters in Parsippany, New Jersey.
Richard Francis expressed his enthusiasm about Shields joining the team, highlighting Shields' extensive experience in health operations as crucial for Teva's ongoing Pivot to Growth strategy. Francis also acknowledged the contributions of Eric Drapé in enhancing Teva's operations network, which has seen improvements in standardizing processes and operating margins.
Shields commented on his appointment, noting Teva's potential and the progress of its growth strategy. He expressed his eagerness to work with the Teva Global Operations team and contribute to the company's mission of serving patients worldwide.
Teva Pharmaceutical Industries has been a fixture in the global pharmaceutical market for over 120 years, with approximately 37,000 employees in 58 markets.
The information in this article is based on a press release statement from Teva Pharmaceutical Industries Ltd.
InvestingPro Insights
As Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) welcomes Matthew Shields to its executive team, the company's financial health and market performance remain pivotal for investors and industry analysts. Teva's market capitalization stands at a robust $19.19 billion, reflecting investor confidence in the company's market position and future prospects. The company has also reported a revenue growth of 7.23% over the last twelve months as of Q1 2024, signifying its operational strength in a competitive pharmaceutical landscape.
An InvestingPro Tip indicates that analysts have revised their earnings upwards for the upcoming period, suggesting that Teva's financial outlook may be improving. This aligns with the positive revenue growth figures and could be a signal of a promising future under the new leadership. Moreover, Teva's stock has experienced a significant return over the last week, with a price total return of 8.58%, and an impressive year-to-date price total return of 63.7%, underscoring the company's strong short-term performance in the market.
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