1. Scrip
  2. >>Business
  3. >>Strategy

Schultz Swings The Cleaver At Teva, Cutting 25% Of The Workforce

 
• By Jessica Merrill

Troubled Teva has been preparing employees for layoffs, but the final plan will reshape the generic drug giant entirely with 14,000 jobs being cut in a scramble to stabilize the company. Every business area and geography will be affected.

Desperate businessmen

Teva Pharmaceutical Industries Ltd. CEO Kare Schultz is making fast, dramatic changes at the generic drug giant as an emergency response to stabilize the company. The announcement Dec. 14 that Teva will cut more than 25% of its workforce, or 14,000 employees, will reshape the company entirely.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Strategy

Europe Pharma Heavyweights Call For Higher Drug Prices At Home

 
• By Kevin Grogan

Sanofi's Paul Hudson and Novartis's Vas Narasimhan claim that while Europe is home to some of the most important biopharma companies in the world, its position is in jeopardy.

MetaVia’s ‘Safe’ Obesity Drug Resonates With Analysts, But Not Investors

 
• By Joseph Haas

The biotech reported Phase I multiple-ascending dose data for its obesity drug for the second time in a week, but its safety and tolerability do not offset concerns about relatively unimpressive weight reduction.

Enzene Sees Tariff Exemptions For India, Front-Ends US Capacity

 
• By Vibha Ravi

Enzene's CEO Himanshu Gadgil anticipates exemptions for Indian products from US tariffs expected to be imposed on pharmaceuticals. In an interview ahead of the US Vice Premier's India visit, he also talks about front-loading capacity at Enzene's US plant and a change in its biosimilars strategy

Roche US Exports To Exceed Imports After New $50bn Investment

 
• By Andrew McConaghie

A brand new R&D center in Massachusetts and a giant manufacturing site for its future obesity drugs are among the key investments in the US.

More from Business

MetaVia’s ‘Safe’ Obesity Drug Resonates With Analysts, But Not Investors

 
• By Joseph Haas

The biotech reported Phase I multiple-ascending dose data for its obesity drug for the second time in a week, but its safety and tolerability do not offset concerns about relatively unimpressive weight reduction.

Regeneron To Expand US Manufacturing, Citing Commercial And Clinical Expansion

 
• By Alaric DeArment

The company said the main reason for expanding its manufacturing capacity was its growing US commercial portfolio and clinical pipeline.

Enzene Sees Tariff Exemptions For India, Front-Ends US Capacity

 
• By Vibha Ravi

Enzene's CEO Himanshu Gadgil anticipates exemptions for Indian products from US tariffs expected to be imposed on pharmaceuticals. In an interview ahead of the US Vice Premier's India visit, he also talks about front-loading capacity at Enzene's US plant and a change in its biosimilars strategy