Teva Neuroscience
Teva Neuroscience is a subsidiary of Teva Pharmaceutical Industries Ltd., a global pharmaceutical company specializing in the development, production and marketing of generic and proprietary branded pharmaceuticals as well as active pharmaceutical ingredients. Teva is among the top 20 pharmaceutical companies and among the largest generic pharmaceutical companies in the world. The company develops, manufactures and markets generic and innovative human pharmaceuticals and active pharmaceutical ingredients. Close to 90 percent of Teva's sales are in North America and Europe.
TEVA acquired the IVAX Corporation in 2006. Headquartered in Miami, FloridaU.S. and internationally. The merger positioned TEVA to expand and strengthen the global generic and branded businesses with additional products, a deeper pipeline, and a wider presence in new therapeutic areas and growth markets.
The Challenge
Teva Neuroscience was responsible for integrating the branded pharmaceuticals component of IVAX into the business. They did so successfully and without incurring additional cost or negatively impacting marketing efforts. At the completion of the post-merger integration effort, Teva Neuroscience wanted to proactively leverage lessons learned from the IVAX project to further strengthen strategy execution, merger integration, project management, and change leadership competencies.
The Work
Teva Neuroscience engaged TPG Management Consulting to conduct a post-project audit to identify any opportunities for improvement and recommend actions to leverage lessons learned and strengthen the organization.
TPG Management Consulting interviewed project leaders, reviewed integration work products, and analyzed the results in the context of proven effective practices. TPG Management Consulting presented findings, conclusions and recommendations to Teva Neuroscience leadership. The recommendations were based on findings from the interviews and also included proven practice recommendations from the merger integration, project management, and the extensive change leadership experience brought by the TPG Management Consulting team.
Results
The clear, meaningful guidance regarding merger integration and enterprise project management enabled the already experienced executive leadership team to act on lessons learned from the IVAX merger as a first step to further to strengthen its merger integration and enterprise project management capabilities. In addition, Teva Neuroscience was able to share its new processes and techniques with its global parent, Teva Pharmaceutical Industries Ltd.