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Changes in Management Board of PLIVA HRVATSKA

Changes in Management Board of PLIVA HRVATSKA

PLIVA HRVATSKA today announced the appointment of Matko Bolanča to a position as a member of the Company's Supervisory Board, following the decision of Mr. Bolanča, to leave his position as President of the Management Board of PLIVA HRVATSKA d.o.o.

Matko Bolanča joined PLIVA eleven years ago, and occupied a leading position in the company for five years. In 2004 he was appointed the President of the Management Board of PLIVA HRVATSKA d.o.o., and in 2007 the General Manager of PLIVA in Croatia and Director of Southeast Europe Region. Since the beginning of 2009 Mr. Bolanča has been responsible for PLIVA's overall operations in Croatia and Southeast Europe and led its successful integration into the Teva Group. Under his leadership PLIVA maintained its respectable leading position in the Croatian market.

PLIVA is today the leading pharmaceutical company in the Croatian market and it is ahead of its first competitor by around 30%. PLIVA is also the leading company in several therapeutic groups, e.g. antibiotics and CNS drugs, and the leading manufacturer in Croatia in the oncology segment.

Mr. Bolanča led PLIVA's integration into the Teva Group which has resulted in a considerable increase in production and new R&D projects, said Allan Oberman, President of the Supervisory Board of PLIVA HRVATSKA.

Two years ago PLIVA also entered a new investment cycle, focused on the expansion and further modernization of production processes. While Croatia still faces high unemployment rates, the number of new employees at PLIVA has increased by more than 100 over the last six months and PLIVA has ambitious plans for its further growth by the end of the year.

"I am exceptionally proud to have been given the opportunity to lead such an extraordinary company through a number of changes over the past five years. Although we faced some tremendous challenges, PLIVA's expert teams demonstrated more than once how to successfully cope with major changes in both domestic and international markets", said Matko Bolanča. "We have closed a complete development cycle, and PLIVA is today a fully integrated member of the Teva Group. I am confident that it will know how to use the advantages it has been offered as a member of the largest global generic pharmaceutical company", added Mr. Bolanča. 

It was also announced that Mr. Tihomir Orešković is appointed President of the Management Board of PLIVA HRVATSKA d.o.o., effective July 1, 2012, and his responsibilities will also include PLIVA's operations in Southeast Europe. 

Mr. Orešković was born in Zagreb in 1966. In 1989 he graduated in chemistry from McMaster University, in Canada, where he also finished his MBA studies (areas of concentration: finance and information systems) in 1991. In 1992 Mr. Orešković started his professional career with the pharmaceutical company Eli Lilly in Canada where he held different functions in finance and international positions, including Latin America and Asia. He left the company as Director of Government Relations and Economic Affairs to join Teva Canada, as VP Business Development, Specialty Products and CFO. Mr. Orešković joined PLIVA in 2009 as CFO for Eastern Europe, and was appointed CFO for EMIA (Eastern Europe, Mediterranean, Israel and Africa) in 2010.

Mr. Orešković said: "I am privileged to be given this opportunity to continue to build, together with PLIVA's superior expert teams, a successful future for PLIVA, a company so rich in history and international achievements. Our results so far have demonstrated that we know how to respond to challenges and I firmly believe that PLIVA's respectable history will be a platform on which we shall build an even more successful future in both Croatian and international markets."

"Our production sites in Zagreb and Savski Marof, which are approved by Croatian, US, European and other regulatory agencies, are strategic centers for the entire Teva Group. Furthermore, our research capacities in Zagreb are dedicated to the development of products for the most demanding and developed global pharmaceutical markets. Teva's employees, however, are its greatest asset, and their diversity, commitment and expertise will ensure the company's further development and growth. We would like to use this opportunity to thank Matko Bolanča for his commitment in these most challenging and demanding endeavors and wish Mr. Orešković a lot of success in his future efforts", said Jeremy Levin, Teva' CEO.


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