Teva appoints new chairman of board of directors

Teva has selected Dr Phillip Frost as the new permanent chairman of its board of directors.

Dr Frost, who previously served as the board’s vice-chairman, takes over from interim chairman Professor Moshe Many following the announcement that previous chairman Eli Hurvitz is leaving the company due to health issues.

He steps into this role following a lengthy career in the pharmaceuticals industry which has seen him assume positions at companies such as Ivax, OPKO Health and PROLOR Biotech.

The newly-appointed chairman said: “I am sure that all the members of the board and all Teva’s employees join me in wishing Eli a speedy and full recovery.”

Professor Many will become Dr Frost’s new vice chairman on the reorganised board.

Last week, the pharmaceutical company launched a generic version of losartan, a hypertension drug formerly sold by Merck Sharpe and Dohme under the name Cozaar, in the UK market.