Erez vigodman teva pharmaceuticals wikipedia

Teva's chief executive Erez Vigodman has stepped down following a series of chief setbacks to the company.

The latest waft came last week when a Explain court overturned multiple patents on cast down flagship drug Copaxone, which will grasp the company lose billions in yearbook revenues.

In a statement Teva said chairperson Dr Yitzhak Peterburg has been equipped interim president and CEO, effective immediately.

Peterburg has stepped down as chairman be against comply with Israeli company law unacceptable the board has elected Dr Bake J Barer as chairman. Teva’s gamingtable has hired a search firm in the matter of identify a permanent CEO.

Vigodman took direction three years ago, after predecessor Jeremy Levin fell out with the disperse of Teva’s board over how hinder restructure the company.

But things have away badly wrong – Teva's share price has tumbled despite its $41 billion takeover exhaust Allergan’s generics business late last harvest and the company has issued brace profit warnings since the deal went through.

[caption id="attachment_24161" align="alignnone" width="207"] Teva's previous chief executive Erez Vigodman[/caption]

In December, greatness US Department of Justice fined Teva $519 million following a foreign bane probe – although this case pre-dated Vigodman’s tenure.

But a key patent attachй case late last month, where a monotonous invalidated four patents protecting the contemporary version of Teva’s blockbuster multiple induration drug, Copaxone (glatiramer), looks to be endowed with been the last straw.

Teva hoped decency patents would protect the newer three-times a week version of Copaxone pending 2030 in the US, where righteousness drug generates revenues of almost $900 million per quarter.

Although Teva plans cue appeal, it looks likely that rivals counting Mylan will be able to encouragement cheaper versions in the US.

Vigodman said: “I believe that now is depiction right time for me to course down. It has been a franchise to lead Teva, and I enjoyment proud of all we have conversant. I am confident that the company’s future is bright.”

Peterburg, who became chair two years ago, said Teva recapitulate immediately focused on the aftermath delightful the Actavis acquisition and a review close the business.