New York, October 30, 2013 -- Moody's Investors Service commented on the announcement by Teva Pharmaceutical Industries Ltd ("Teva") that its President and CEO, Dr. Jeremy Levin, will step down. The announcement is credit negative because it creates the potential for diversion from the clearly articulated business strategy closely crafted by Dr. Levin (and the Board) since he joined the company in May 2012. There is no change to the company's A3 rating or the negative outlook. Please go to www.moodys.com for our full Issuer Comment.

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