Drastic action by Schultz aims to right Teva’s ship

Teva president and chief executive Kåre Schultz is seeking to achieve cost savings of US$3 billion by the end of 2019, through significant cuts to the firm’s staff, facilities and product portfolio. David Wallace reports.

If Teva’s search for a new president and chief executive officer this year was a long-winded one, then the Israeli firm’s chosen leader has wasted no time in making sweeping changes to the company once he was firmly ensconced in the chair.

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