Teva names new business development strategy and innovation head

Teva has announced the addition of Timothy Wright to its executive leadership team as its new business development strategy and innovation head, effective as of April 13th 2015.

Boasting almost 30 years of global experience in the pharmaceuticals and biotech sectors, Mr Wright has worked for companies such as Covidien, Elan Pharmaceuticals and AAI Pharmaceuticals/Xanodyne.

He most recently served as director of the Drug Discovery and Development Institute at the Ohio State University Comprehensive Cancer Center, where he played a key role in defining its activities, while establishing external networks and partnerships to aid its research efforts.

In his new role at Teva, Mr Wright will be responsible for identifying new sources of innovation and growth that are extensions of Teva's business model.

Erez Vigodman, Teva's president and chief executive officer, said: "His significant experience across various aspects of healthcare and unique perspective will enable us to realise our full potential at this critical time of change in the pharmaceutical industry."

This comes after the firm agreed the sale of four oncology research assets to Ignyta last week.