Teva Appoints Former Sandoz CEO Francis To Replace Schultz
Teva will soon have a new president and CEO with former Sandoz chief Richard Francis announced as Kåre Schultz’s replacement from the start of 2023.
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Haleon, Teva and UK consumer healthcare industry association, PAGB, are among 42 members of the Sustainable Medicines Partnership, which “aims to build science-based, scalable, sustainable solutions to help reduce the waste of medicines and the waste from medicines.”
Teva is expecting to have a new CEO by the end of next year, after current leader Kåre Schultz indicated that he was unlikely to renew his contract. The president and chief executive has overseen an eventful and transformative period for the Israeli firm.
Teva UK's first Rx-to-OTC switch is a UK Viagra Connect sildenafil competitor under the Liberize brand. Priced around 25% lower than the market leader, Teva's new brand must also compete with Perrigo's white label and Dr Reddy's Almus branded alternatives within the country's growing erectile dysfunction category.