Teva Announces Planned Departure of Eyal Desheh, Group Executive Vice President and Chief Financial Officer

JERUSALEM–(BUSINESS WIRE)– Teva Pharmaceutical Industries Ltd. (NYSE and TASE:TEVA) today confirmed
that Eyal Desheh, Group Executive Vice President, Chief Financial
Officer, will depart from Teva during the coming months. The Company
will immediately commence a search to identify a successor to serve as
Chief Financial Officer. Mr. Desheh will take part in the company’s
upcoming Q1 earnings call on May 11^th.

Mr. Desheh, 65, became Group Executive Vice President, Chief Financial
Officer in 2008. From October 2013 to February 2014, Mr. Desheh served
as Acting President and Chief Executive Officer. Earlier in his career,
from 1989 to 1996, he served as Teva’s Deputy Chief Financial Officer.

Dr. Yitzhak Peterburg, Interim President and CEO of Teva, stated, “Eyal
has helped Teva grow into a leading global pharmaceutical company. The
management team and I would like to thank Eyal for his many
contributions, as well as his continued support during the transition.”

Eyal Desheh stated, “Yesterday, I celebrated my 65^th birthday
and I’m transitioning into the next phase of my career. It has been a
privilege to serve for many years as Teva’s CFO alongside its
exceptional management team and world-class employees. When I look back
on my career with Teva, I am very proud of what we have accomplished as
a Company. I look forward to working to ensure a seamless transition as
Teva continues executing for shareholders in 2017.”

Dr. Sol J. Barer, Chairman of the Board of Directors, stated, “My
highest priority is to identify and appoint Teva’s next Chief Executive
Officer. We expect the Company’s new CEO to have a significant role in
identifying Eyal’s successor.”

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a leading
global pharmaceutical company that delivers high-quality,
patient-centric healthcare solutions used by approximately 200 million
patients in 100 markets every day. Headquartered in Israel, Teva is the
world’s largest generic medicines producer, leveraging its portfolio of
more than 1,800 molecules to produce a wide range of generic products in
nearly every therapeutic area. In specialty medicines, Teva has the
world-leading innovative treatment for multiple sclerosis as well as
late-stage development programs for other disorders of the central
nervous system, including movement disorders, migraine, pain and
neurodegenerative conditions, as well as a broad portfolio of
respiratory products. Teva is leveraging its generics and specialty
capabilities in order to seek new ways of addressing unmet patient needs
by combining drug development with devices, services and technologies.
Teva’s net revenues in 2016 were $21.9 billion. For more information,
visit www.tevapharm.com.

Teva’s Safe Harbor Statement under the U. S. Private Securities
Litigation Reform Act of 1995

This press release contains forward-looking statements, which are based
on management’s current beliefs and expectations and are subject to
substantial risks and uncertainties, both known and unknown, that could
cause our future results, performance or achievements to differ
significantly from that expressed or implied by such forward-looking
statements. Important factors that could cause or contribute to such
differences include risks relating to: our generics medicines business,
including: that we are substantially more dependent on this business,
with its significant attendant risks, following our acquisition of
Actavis Generics; our ability to realize the anticipated benefits of the
acquisition (and any delay in realizing those benefits) or difficulties
in integrating Actavis Generics; the increase in the number of
competitors targeting generic opportunities and seeking U.S. market
exclusivity for generic versions of significant products; price erosion
relating to our generic products, both from competing products and as a
result of increased governmental pricing pressures; and our ability to
take advantage of high-value biosimilar opportunities; our specialty
medicines business, including: competition for our specialty products,
especially Copaxone^®, our leading medicine, which faces
competition from existing and potential additional generic versions and
orally-administered alternatives; our ability to achieve expected
results from investments in our product pipeline; competition from
companies with greater resources and capabilities; and the effectiveness
of our patents and other measures to protect our intellectual property
rights; our substantially increased indebtedness and significantly
decreased cash on hand, which may limit our ability to incur additional
indebtedness, engage in additional transactions or make new investments,
and may result in a downgrade of our credit ratings; our business and
operations in general, including: uncertainties relating to our recent
senior management changes; our ability to develop and commercialize
additional pharmaceutical products; manufacturing or quality control
problems, which may damage our reputation for quality production and
require costly remediation; interruptions in our supply chain;
disruptions of our information technology systems or breaches of our
data security; the failure to recruit or retain key personnel, including
those who joined us as part of the Actavis Generics acquisition; the
restructuring of our manufacturing network, including potential related
labor unrest; the impact of continuing consolidation of our distributors
and customers; variations in patent laws that may adversely affect our
ability to manufacture our products; adverse effects of political or
economic instability, major hostilities or terrorism on our significant
worldwide operations; and our ability to successfully bid for suitable
acquisition targets or licensing opportunities, or to consummate and
integrate acquisitions; compliance, regulatory and litigation matters,
including: costs and delays resulting from the extensive governmental
regulation to which we are subject; the effects of reforms in healthcare
regulation and reductions in pharmaceutical pricing, reimbursement and
coverage; potential additional adverse consequences following our
resolution with the U.S. government of our FCPA investigation;
governmental investigations into sales and marketing practices;
potential liability for sales of generic products prior to a final
resolution of outstanding patent litigation; product liability claims;
increased government scrutiny of our patent settlement agreements;
failure to comply with complex Medicare and Medicaid reporting and
payment obligations; and environmental risks; other financial risks,
including: our exposure to currency fluctuations and restrictions as
well as credit risks; the significant increase in our intangible assets,
which may result in additional substantial impairment charges;
potentially significant increases in tax liabilities; and the effect on
our overall effective tax rate of the termination or expiration of
governmental programs or tax benefits, or of a change in our business;
and other factors discussed in our Annual Report on Form 20-F for the
year ended December 31, 2016 (“Annual Report”) and in our other filings
with the U.S. Securities and Exchange Commission (the “SEC”).
Forward-looking statements speak only as of the date on which they are
made, and we assume no obligation to update or revise any
forward-looking statements or other information contained herein,
whether as a result of new information, future events or otherwise. You
are advised to consult any additional disclosures we make in our reports
to the SEC on Form 6-K, as well as the cautionary discussion of risks
and uncertainties under “Risk Factors” in our Annual Report. These are
factors that we believe could cause our actual results to differ
materially from expected results. Other factors besides those listed
could also materially and adversely affect us. This discussion is
provided as permitted by the Private Securities Litigation Reform Act of
1995.

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