Teva Announces Appointment of New Global R&D and Chief Medical Officer

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) announced today the appointment of Eric A. Hughes, MD, PhD as Executive Vice President, Global R&D and Chief Medical Officer. Dr. Hughes will begin his employment on August 1, 2022, and will be based out of Teva's U.S. headquarters in Parsippany, NJ.

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Dr. Hughes joins Teva with nearly 20 years of experience in all phases of drug development in leading global pharmaceutical companies, most recently as Senior Vice President of Clinical Development and Translational Medicine at Vertex Pharmaceuticals, and prior to that as Head of the Immunology, Hepatology & Dermatology Global Development Unit at Novartis.

"Eric brings nearly 20 years of leadership roles with a proven track record in a variety of R&D functions for global pharmaceutical companies, and has a successful record of accomplishment fostering productive collaborations with key opinion leaders and patient advocacy groups,” said Kåre Schultz, Teva's President and CEO. "As an accomplished scientist with specialty training in infectious diseases and immunology, combined with his track record of leading clinical development activities and talent across multiple therapeutic areas around the globe, I believe Eric has the experience and expertise to lead our Global R&D function and execute on the company-wide vision for innovation and growth going forward."

Dr. Hughes stated, "I am thrilled to join Teva's executive management team and lead its unique, integrated Global R&D organization. Building on Teva's strong heritage of value creation, we have a tremendous opportunity to bring meaningful specialty, biologics and generics medicines to patients worldwide."

Kåre Schultz, President and Chief Executive Officer, stated, "On behalf of the Board of Directors and our leadership team, I would also like to take this opportunity to thank Dr. Hafrun Fridriksdottir for over 25 years of service to Teva and its legacy companies. Hafrun has been an integral part of my Executive Management team and I wish her good luck as she embarks on her next adventure."

Eric A. Hughes bio

Dr. Hughes has held senior positions at Vertex Pharmaceuticals, a U.S. based global biotechnology company and at Novartis. He launched his career in the pharmaceutical industry in 2004, in early clinical research at Bristol Myers-Squibb Company and then at Schering-Plough Research Institute. He then had a one-year stint at Merck Research Laboratories as Director of Clinical Research for Clinical Hepatology before returning to Bristol Myers-Squibb in 2010.

Dr. Hughes was the Medical Lead in Global Clinical Research for Virology at Bristol Myers-Squibb and his career there culminated as Head of Virology, Fibrotic Diseases, Genetically Defined Diseases, Autoimmunity, and Cardiology Exploratory Clinical & Translational Research where he managed teams responsible for discovery medicine and biomarkers, driving the development from First-in-Human to Proof of Concept. He also led due diligence and integration teams.

Dr. Hughes earned his MD and PhD at Yale School of Medicine. He completed his medical residency with the Department of Internal Medicine at Yale New Haven Hospital/Yale University School of Medicine, and a Fellowship in Infectious Diseases at the Yale University School of Medicine. He is a prolific and widely published scientist, co-authoring more than 30 articles in peer-reviewed scientific journals and a deep passion for helping patients.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products. Learn more at www.tevapharm.com.

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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 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. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to our business and operations in general, including our ability to attract, hire and retain highly skilled key personnel, our ability to successfully compete in the marketplace, including our ability to develop and commercialize biopharmaceutical products, competition for our specialty products, including AUSTEDO®, AJOVY® and COPAXONE®; our ability to achieve expected results from investments in our product pipeline, our ability to develop and commercialize additional pharmaceutical products, and the effectiveness of our patents and other measures to protect our intellectual property rights; our substantial indebtedness; uncertainty regarding the COVID-19 pandemic and the governmental and societal responses thereto; our ability to successfully execute and maintain the activities and efforts related to the measures we have taken or may take in response to the COVID-19 pandemic and associated costs therewith; compliance, regulatory and litigation matters, including failure to comply with complex legal and regulatory environments; other financial and economic risks; and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2022 and in our Annual Report on Form 10-K for the year ended December 31, 2021, including in the section captioned “Risk Factors.” 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 cautioned not to put undue reliance on these forward-looking statements.

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