Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) CEO Dr. Jeremy Levin, who took up his post today, has wasted no time in making a top appointment.

Yesterday Teva announced that Dr. Michael Hayden is joining the company as president of global R&D and chief scientific officer, based in Israel. In this new role, Dr. Hayden will lead all Teva's R&D.

Dr. Hayden is currently Killam Professor of Medical Genetics at the University of British Columbia, and Canada Research Chair in Human Genetics and Molecular Medicine. He is also the founder and Director/Senior Scientist of the Centre for Molecular Medicine and Therapeutics at the University of British Columbia. He is a preeminent expert in genetics and personalized medicine and is one of the worlds leading experts on Huntingtons disease. Dr. Hayden has extensive experience in all aspects of drug development from target identification, to all stages of clinical development through to drug submission to the various regulatory agencies around the world.

Dr Levin said, "We are delighted to have Michael join us as our chief scientific officer. He brings to Teva world-renowned experience and knowledge in scientific and clinical research coupled with deep knowledge of discovery and development of medicines. His deeply innovative approach and very strong leadership capabilities make him a true asset for Teva, our customers and the patients we serve.

Dr. Hayden said: I am thrilled to be leading Tevas world-renowned R&D organization and to be working under Dr. Jeremy Levin's leadership. We have a tremendous opportunity to redefine the way we traditionally develop medicines by focusing on R&D as a whole, and not by how the product will be commercialized.

Dr. Hayden has founded three biotechnology companies: NeuroVir; Aspreva Pharmaceuticals; and Xenon Genetics Inc. He has received numerous prestigious awards, including the Killam Prize and the Canada Gairdner Wightman award in 2011; the Order of Canada in 2010; Order of British Columbia in 2009; Canada's Health Researcher of the Year in 2008 and the Distinguished Scientist Award of the Canadian Society of Clinical Investigation in 1998.

Dr. Levin replaced CEO Shlomo Yanai today. Yanai stepped down after five years in the job. Two senior executives announced their departure yesterday, corporate VP global branded products Kevin Buchi and senior VP R&D Lesley Russell. When Dr. Levin was appointed it was expected that he would attempt to strengthen Teva's R&D and prepare the company for the day after Copaxone's patent expires.

Published by Globes, Israel business news - http://www.globes-online.com - on May 9, 2012

Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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Teva appoints Canadian genetics expert to head R&D