Read the Conversation
Meeting Highlights:
- Expanding Regional Capabilities: Teva remains on a strong growth trajectory in Latin America, enhancing local capabilities to ensure sustainable healthcare solutions and greater patient access to medications.
- Commitment to Access & Innovation: The company is dedicated to making Latin America part of the global innovation ecosystem, ensuring that groundbreaking treatments reach patients in the region.
- Strategic Growth Pillars – Brazil, Mexico & Chile: These markets serve as key hubs for Teva’s LATAM strategy, with localized operations, manufacturing sites, and strong support for public and private healthcare initiatives.
- Diverse & Specialized Portfolio: Teva is strengthening its leadership in pain management, cardiovascular treatments, and complex generics in oncology while also bringing innovation in rare diseases—notably Huntington’s disease treatments.
- AI & Technology in Healthcare: AI is playing an increasing role in optimizing supply chains, advancing research, and integrating healthcare systems. The biggest opportunities in Latin America lie in production, education, and health innovation.
- Humanizing Healthcare: Teva is fostering collaborative initiatives across the region, working with 80+ NGOs to improve access and care for underserved populations.
EF: Now that you are responsible for Latin America, how has your mission evolved during this period of accelerated growth? What excites you the most about this new challenge?
RF: Over the past eight quarters, Teva has seen consistent global growth. Our innovative growth platforms and our generics business have exceeded expectations, helping expand access to medicines and improve healthcare systems globally. Latin America has been a key player in this growth, particularly through our focus on Brazil and Mexico. Our ambition has always been to boost patient access, support sustainable healthcare, and bring innovative medicines to the region.
After four years at Teva, we have consolidated our presence in Latin America, with Chile being our largest operation. Despite economic challenges in Argentina, we have established a strong, integrated business model aiming for a +$100 million market presence. In both countries, we have focused on localized operations, supported by our manufacturing sites, to strengthen the healthcare ecosystem.
Brazil and Mexico have been critical in our strategy. Brazil, as the largest market, has seen significant success. In 2022, we introduced Teva’s first Huntington’s disease treatment, marking a major step in our commitment to innovation. We are supporting over 100 patients with Huntington’s disease in Brazil and working on reimbursement filings to improve access. Additionally, we have expanded our innovative migraine treatment and oncology generics, strengthening our position in both the public and private sectors.
In Mexico, we have doubled the company size in four years, focusing on key therapeutic areas like pain management, cardiovascular diseases, CNS disorders, and specialty hematology-oncology. We have also refocused our business in smaller markets, ensuring access to our medications through alternative distribution models.
Our strategy aligns with Teva’s global priorities—innovation, generics leadership, and operational efficiency. In Latin America, we have executed a hybrid business model combining specialty and complex generics while enhancing efficiency to reach more patients.
EF: How do you see Latin America's global impact within the broader healthcare landscape? Beyond manufacturing, what contributions can the region make, especially in innovation?
RF: The world is undergoing significant changes, and with these changes come both challenges and opportunities. According to IQVIA, Latin America is expected to grow by 22% over the next few years. The region is aging, shifting closer to the demographic profiles of Europe and North America, which will impact healthcare needs. This, along with growing economic and business trends, is pushing Latin America to expand its technological capabilities and focus on higher-value industries.
Latin America is also rich in resources, which will play a crucial role in the future. At Teva, our "Healthy Future" platform aligns with our "Pivot to Growth" strategy, focusing on manufacturing efficiencies, innovation, and increasing access to generics. We are also working on sustainability initiatives to ensure the region’s role in maintaining a healthy planet.
By improving manufacturing capabilities, addressing the needs of an aging population, and integrating more deeply into global healthcare, Latin America is poised to become an increasingly influential player in global healthcare.
EF: How does your hybrid approach in Latin America—balancing generics, biologics, and biosimilars—drive progress in the region? What are the most promising areas for innovation? And how do you plan to navigate pricing and regulatory challenges to ensure continued access?
RF: A few years ago, digital transformation and supply chain resilience were hot topics. Now, looking ahead, we understand the challenges of the past but still face an unpredictable and promising future. Regulatory progress has been made, with authorities collaborating across borders. An example of this is COFEPRIS joining ICH in recent years, which is a positive development for the region's second-largest market.
Technology, especially AI, is another transformative force. Latin America can leverage AI to improve efficiency in areas that remain more traditional, such as regulatory processes and customs. This could streamline operations and address some of the complexities in the industry.
Financial constraints in healthcare systems worldwide highlight the need for digital health solutions to expand patient access. The key challenges will be integrating technology into regulatory frameworks, manufacturing, and patient care while fostering collaboration between the public and private sectors. A strong, coordinated ecosystem—comprising regulators, healthcare providers, industry leaders, and patients—will be essential for driving progress.
EF: What are the key drivers in the digital transformation of healthcare, and how can Latin America use its vast healthcare data to enhance the system?
RF: This is a complex question, as it covers various areas, from the role of startups reshaping different aspects of life to advancements in digital currencies, technology, and healthcare. Focusing on Latin America, I believe three key areas must see technological impact for meaningful change:
First, agriculture. Technology needs to enhance productivity in this sector, as it remains crucial to the region. Many Latin American countries rely heavily on agriculture, and improving efficiency in this area will help food security, and local employment, and contribute to the global food supply.
Second, education. While the region has an aging population, its young, dynamic demographic is driving innovation, especially through startups. At Teva, we work closely with startups and universities worldwide, fostering innovation in Latin America through projects in Chile and Mexico. By combining education with technology, we can unlock new opportunities across industries.
Lastly, healthcare. For a developing region like Latin America, prioritizing healthcare, education, and food security is critical. Technology has a vital role in improving patient care, streamlining diagnostics, and expanding treatment access. At Teva, we collaborate with startups, businesses, hospitals, pharmacy chains, and governments to implement tech-driven healthcare solutions.
EF: Could you share more about your "Humanizing Healthcare" initiative?
RF: Technology plays a crucial role in driving progress, and it is a vital area we focus on. However, we mustn't lose sight of the human aspect in all of this.
At Teva, we have embraced this through our "Humanizing Health" initiative, part of our broader “Healthy Future” program aimed at improving lives. We have partnered with over 80 NGOs across various countries, working on impactful projects. In Latin America, this initiative has been implemented in Chile, Argentina, Mexico, and Brazil. In Mexico, we have had a significant impact, especially on children with cancer and rare diseases. These are children who often go unnoticed by society. In regions like Chiapas and Oaxaca, where healthcare access is limited, we have worked with NGOs to provide vital support. In Chile, we have extended healthcare access to remote communities, with Teva/ Laboratories Chile being one of the first to collaborate on such initiatives.
This initiative gives our work a profound purpose. It is at the core of what we do, aligning our business goals with human impact. We ensure that behind every product we produce, a patient is benefiting from it. Our focus is on providing broader access to our products, keeping the real people we help at the forefront of everything.
EF: How would you address your employees as you celebrate the past four years with the company? What are the top three achievements or aspects you are most proud of from this journey?
RF: First, I would celebrate our collective and diverse effort. Our success over the past years has been a team achievement. While growth for the company is crucial, staying focused on the patient has been equally important. One achievement I would highlight is our ability to bring essential products to patients in need. We have addressed conditions like Huntington's Disease, chronic migraine, cancer, hematology, cardiovascular issues, and pain management. On a personal level, this resonates with me deeply, and I would share this sentiment with my team.
Second, I would emphasize the learning journey we have been on. As leaders, we must continually learn; instilling that mindset in our teams is key to fostering engagement and growth.
Lastly, I would celebrate the fun we have had along the way. Our company culture is driven by a "can-do" attitude, with a strong sense of enterprise, diversity, and humility. It is about getting things done while appreciating the work we have accomplished together. I am excited about what is ahead.
