Dan Suesskind, the CFO of Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) for 31 years until he retired in 2008, has been appointed a director in RedHill Biopharma Ltd. (TASE: RDHL), which has a pipeline of drugs undergoing clinical trials.
Suesskind oversaw the finances of Teva's growth from a company with a market cap of $37 million to $34 billion. He is currently a director at the company.
"I am pleased to join RedHill's team of experienced managers, who are backed by leading advisors in the pharmaceutical industry. I will help as much as I can to promote RedHill's objectives," said Suesskind. "RedHill is moving forward on the drugs in its pipeline. The drugs are undergoing late-stage clinical trials for regulatory approval, effectively utilizing the company's management, regulatory, and financial capabilities.
RedHill raised NIS 56 million in its IPO on the TASE last week. The share price fell 1.2% by midday to NIS 3.50, giving a market cap of NIS 190 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 22, 2011
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