Teva Pharmaceutical announces Richard Francis to join as CEO

– ISRAEL, Petach Tikva –  Teva Pharmaceutical Industries Ltd. (TASE: TEVA | NYSE: TEVA) today announced the appointment of Richard Francis as President and CEO, effective January 1, 2023, to succeed Kåre Schultz who will retire as CEO, effective December 31, 2022.

“The Company is now well positioned for an exciting future and, by leveraging Richard’s compelling track record of growing businesses in the life sciences, biologics and generic drug sectors, his entrepreneurial and pragmatic leadership style and emphasis on a collaborative and innovative culture, the Board and I are confident that Teva will build on this solid foundation. As a global enterprise, we look forward to furthering our mission to provide much-needed medicines to even more patients around the world under Richard’s leadership. The Board is delighted to have found the ideal leader for the next phase in Teva’s exciting journey to return to growth and leadership.” said Board Chairman, Dr. Sol Barer.

About Richard Francis

Richard Francis is a seasoned pharmaceutical executive bringing more than two and a half decades of experience to Teva, including five years as CEO of Sandoz and a member of the Novartis Executive Team. Before his role at Sandoz, Mr. Francis was a senior executive at Biogen for 13 years where he held several senior positions, including leading the U.S. business. He also oversaw the successful launch of Tecfidera in 2013. Mr. Francis is currently the CEO of Purespring Therapeutics, a pioneering gene therapy company focused on transforming the treatment of kidney diseases, and CEO of Forcefield Therapeutics, a pioneer of best-in-class therapeutics to protect heart function. He is also an operating partner for Syncona Investment Management Limited.

“I have long been impressed with the value Teva provides to patients globally and I am honored to take on the role of leading this extraordinary company into the future,” said Richard Francis. “I look forward to leveraging my background and years of pharmaceutical experience to build on Teva’s strong fundamentals and to write the next exciting chapter for Teva, focusing on building a solid pathway to deliver long-term growth. I continue to see a bright future ahead for the Company and look forward to working closely with the Board, management team, and talented employees to continue driving value creation for patients, employees, shareholders, and other stakeholders.”

Richard Francis is an operating Partner at Syncona, which focuses on founding, building, and funding healthcare companies. Mr. Francis is CEO of Syncona’s portfolio companies, Purespring Therapeutics, one of the first AAV gene therapy companies focused on the kidney globally, and Forcefield Therapeutics, a pioneer of best-in-class therapeutics to retain heart function via protection of cardiomyocytes.

Before his current roles, Mr. Francis spent five years as CEO of Sandoz and a member of the Novartis Executive Team. During Mr. Francis’ time at Sandoz, he developed a transformative strategy to reshape the business by focusing the organization on key geographies, reshaping the portfolio, and targeting efficiencies to drive growth and margin improvement. Mr. Francis held various leadership roles over a 13-year tenure at Biogen, including SVP of U.S. Commercial, VP / SVP of Global Commercial Strategy, Managing Director of Canada, and Managing Director of the UK and Ireland. During his time at Biogen, Mr. Francis oversaw the growth of the U.S. Commercial business, driven by a strategic focus on commercial excellence. To that end, at Biogen, Mr. Francis led the successful launch of Tecfidera in 2013. Earlier in his career, Mr. Francis worked at Sanofi and Wyeth.

Mr. Francis holds a Bachelor of Arts in Economics from The Manchester Metropolitan University.

About Teva Pharmaceutical

Teva Pharmaceutical Industries Ltd. has been developing and producing medicines to improve people’s lives for over a century. We are a global leader in generic, biosimilar, and specialty medicines with a portfolio of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take 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.

For more information: https://www.tevapharm.com/

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