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After CEO’s Abrupt Resignation, Teva Management Emphasizes Stability

 
• By Michael Goodman

A day after announcing the abrupt resignation of CEO Jeremy Levin, Teva’s management emphasized that the company’s current strategy would continue, including plans for dealing with ongoing pressures from Copaxone’s loss of exclusivity, and under-performance of the European generics businesses. Teva hoped to persuade rattled investors of its steady road to growth.

Interim CEO Eyal Desheh led his management team through an orderly survey of Teva Pharmaceutical Industries Ltd.’s performance on the company’s third-quarter earnings call on Oct. 31st, focusing, as is typical, on financials, operating metrics and near-term product catalysts.

The call was anything but routine, however. Only the day before, Teva Chairman Frost and Desheh had the uncomfortable job...

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