He succeeds Sigurdur Olafsson and will be based in the US, Teva said in a statement.
Bhattacharjee has served as President and CEO of Teva Generics Europe since April 2013, it added.
As President & CEO of Teva Generics Europe Bhattacharjee has a proven track record of improving revenues and profitability, significantly increasing operating profit margins in the European generics business, Teva said.
Teva President and CEO Erez Vigodman said: "Teva will benefit from Dipankar's extensive experience in generics and speciality medicines, his financial and operational expertise and his deep understanding and appreciation for Teva's culture of innovation and our outstanding people".
Bhattacharjee joined Teva as General Manager, Teva UK Ltd in 2009. Prior to joining Teva, he served 15 years at Bausch + Lomb in various senior roles, including Vice President Commercial in both Europe and Asia-Pacific regions and Corporate Vice President and President, Asia Pacific Region.