Marc Goodman
Obviously, one of the key things that you’ve been focused on since you’ve gotten there is this Pivot to Growth strategy. Just give us a sense of where we are in that process? I think that will be helpful to kind of kick things off.
Richard Francis
President, CEO & Director
Well, thanks, Marc, and thanks for having us. We appreciate it. So yes, the Pivot to Growth strategy was started 3 years ago with the aim of getting the company back to growth after many years of decline. And where are we in that journey? Well, we have 3 phases. One was return to growth, and then the next one is accelerate, where we’re in that phase now of accelerating growth. And that’s all about accelerating the transformation from Teva from a pure-play generics company to a world-class biopharma company. And I think we’re really in the thick of that.
I think we’ve shown, if you remember, the Pivot to Growth strategy was based on 4 pillars: deliver on our growth engine, which was all about selling more of our innovative products; step up innovation, which is about bringing our products to the market, innovative products through the clinic quicker; create generics powerhouse and focus the business, which is about capital allocation. And I think this phase we’re in now and you say, is
