takeda

Takeda, Teva name Hiroshi Matsumori CEO of Japanese generic drug joint venture

pharmafile | April 4, 2016 | Appointment | Business Services, Sales and Marketing |  CEO Appointment, Takeda, Teva, joint venture 

Japanese drug firm Takeda (TYO: 4502) and Israel-based Teva (NYSE: TEVA) named Hiroshi Matsumori the chief executive for their newly-formed joint venture generic company, Teva Takeda Yakuhin.

The appointment is effective April 25, with the venture changing its name to Teva Takeda Pharma in or after October, the companies said in a joint statement.

Siggi Olafsson, chief executive of Teva Global Generic Medicines, says: “Matsumori as the newly appointed CEO, whose extensive knowledge in the generics and [long listed products] businesses will help position the company for future success. Japan is one of the fastest growing generics markets in the world, and we expect its high growth to continue driven by social requirements such as increased patients’ needs for a stable supply of affordable high quality medicines and reduction of healthcare expenditures.”

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Takeda said that it expected to record a gain of 100 billion yen ($891 million) from the sale of some assets to the joint venture in full-year 2016.

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