Teva today said it would split into two operational units come July 1st -- Global Generic Medicines (GGM) and Global Specialty Medicines (GSM). GGM will have full responsibility for all existing generic markets -- including portfoilio management, product selection and launch, and commercial execution. It plans to leverage its economies of scale across its global business. The new group will be led by Sigurdur Olafsson as CEO and President. He has held many pharma jobs including President of Actavis.
GSM is responsible for Teva's global specialty medicines business. It will continue to drive growth with patient-centric solutions and introduce new brands. The group is also responsible for incoporating innovative technologies. It is headed by Dr. Rob Koremans. GSM was formed in 2013.
GSM and GGM are supposed to work closely together to realize synergies (the S-word) and leverage the Teva portfolio in both its innovative and generics businesses. See Firstword Pharma.
Posted by Bruce Lehr June 2nd 2014.