Teva Names New CEO Three Months after Firing Jeremy Levin

Teva Pharmaceutical announced on Thursday that its new CEO will be Erez Vigodman, who until now has been the CEO for the huge phosphate and chemical producer Makhteshim Agan Industries.

Vigodman replaces Dr. Jeremy Levin, who moved to Israel two years to take over the world’s largest generic drug company, which has been faltering since a rival firm began marketing a generic alternative to Teva’s conventional Copaxone drug that prevents the reoccurrence of Muscular Sclerosis.

Levin was fired after arguments on company strategy between him and the board of directors.

Teva chairman Dr. Phillip Frost said, “As a member of the Teva board since 2009, Erez has a deep understanding of the company and the industry in which it operates, putting him in a strong position to hit the ground running and deliver value for shareholders."