Teva Pharmaceutical CEO: 'Amazons and Googles' are new competition for pharma

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Teva Pharmaceutical Interim President and CEO Yitzhak Peterburg, MD, said the global healthcare industry is facing a "huge disruption" from the technology sector, according to CNBC.

Tech companies are disrupting the healthcare sector using artificial intelligence and big data to craft digital health solutions, reports CNBC. Pharmaceutical companies must explore this changing industry, in part by expanding their services beyond pill manufacturing, Dr. Peterburg said.

Dr. Peterburg also suggested pharmaceutical companies consider collaborating with startups and small companies to enhance their solutions.

"Part of my competitors are not only the Novartis of the world, and the other pharmas, but really the Amazons and Googles," he told CNBC. "Like any company, we need to think about where we invest and how we invest, and what is the right time to jump into the water."

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