Teva taps Matthew Shields to oversee manufacturing and supply division amid company revamp

Teva, which continues on track with its corporate revamp initiated a year ago, named pharma veteran Matthew Shields as executive vice president of its global operations division responsible for manufacturing and supplies.

Shields replaces Eric Drapé, who is stepping down from the company after working there for more than a decade, the company said in a May 15 press release. Shields will report directly to Teva President and CEO Richard Francis and will be based at the company’s U.S. headquarters in New Jersey.

“Matthew brings a wealth of experience in health operations that are critical to fulfilling our purpose by enabling Teva to execute on our promises to patients and healthcare systems around the world,” Francis said in the release.

The appointment comes as the pharma giant pushes forward with its “Pivot to Growth” strategy that has seen Teva reduce its manufacturing footprint, closing three sites last year and reducing its overall production sites to 49, company execs said during an analyst call after Teva reported first-quarter earnings last week.

On the call, Chief Financial Officer Eli Kalif said Teva plans to shutter or sell four more facilities by the end of 2025 as it targets a global operating footprint of 40 to 42 plants by 2027. Teva is also looking to sell its generics business in Japan within the next year.

The company reported a 5% revenue increase for 2024’s first quarter, though its profits fell just short of analyst expectations. The growth was attributed mainly to sales of its Huntington’s disease med Austedo and its generics business, which saw revenues climb 9%.

Shields previously oversaw end-to-end manufacturing, supply chain, procurement and process development for Merck’s animal health division, known as MSD Animal Health outside the U.S. and Canada. Prior to that, he was in charge of specialty care manufacturing at Sanofi.