19 Aug 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Teva Pharma CEO, Mr Jeremy Levin, has revealed that Brazil and China are the next target markets for the firm, as it expands geographically.
"We look to expand our geographic footprint where we feel that there are markets that we're not present in. And you should know we're not present in places like Brazil in any meaningful way. We're not present yet in the large expanding markets of China in any meaningful way," he said in a conference held by investment house Canaccord Genuity.
Mr Levin also said that Teva was looking for acquisitions or strategic alliances in these markets, but added, "I am not looking to do large acquisitions to penetrate these marketplaces. What I'm looking for is to find the right partners to work for." He stressed that "the old strategy of acquiring topline is no longer our strategy. We look to improve our portfolio of medicines."
Dr Michael R Hayden, president global R&D and chief scientific officer, Teva, while elaborating on Teva's new therapeutic entities (NTE) activity, said that, "It's important to think about NTEs like phase III drugs. We commit to becoming much, much more transparent around our NTE business."
"But just to give you some flavor today, we have and we told the Street that we would have, between 10 and 15 NTEs. We're already at eight. And I suspect that we will probably get to 13 or 14 this year. So we are meeting all the targets," added Dr Hayden.