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News & Trends - Pharmaceuticals

Teva appoints country leader for Australia and New Zealand

Health Industry Hub | November 9, 2022 |

Pharma News: Teva Pharmaceuticals has announced the appointment of its country leader after former General Manager, Benet Irish, left the organisation a few months ago.

Jim Margaritis has been appointed the new VP, APAC Cluster Head and General Manager ANZ at Teva Pharmaceuticals. He will be starting his new leadership role in January 2023 after finishing up as Head of Pharmacy and Institutional at Viatris.

Jim’s experience in the pharma industry spans generics, branded and OTC portfolios including experience in hospital and retail channels. He has held various commercial leadership roles with Pfizer, Lupin Pharmaceuticals and former Mylan Pharmaceuticals.

On the international front, after five years working through a company turnaround, Teva CEO Kare Schultz plans to move on to other responsibilities late next year. When his contract runs out in November 2023, Schultz won’t renew. The company is actively looking for a replacement.

Shortly after Schultz took the role, the company unveiled a massive list of cost cuts, including 14,000 job cuts and plant closures around the globe. Over the past few years, Teva has been embroiled in opioid litigation. The company is gearing up to finalise a $4.35 billion national settlement by the end of the year.

During the third quarter, Teva generated $3.95 billion, down 8% from the same period last year.

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