The shares of Teva Pharmaceutical Industries Ltd., the world’s largest generic-drug maker, have plunged 42 percent since their 2010 peak. Now the man hired to turn the company around just 18 months ago is gone, and analysts say it may be tough to find a replacement.
Teva Pharmaceutical Industries Ltd. Chief Executive Officer Jeremy Levin stepped down after less than 18 months on the job in a dispute with Chairman Phillip Frost over how to restructure the world’s biggest generic-drug maker.
Pfizer Inc., the world’s biggest drugmaker, narrowed its plans to sell or spin off businesses, saying today it would divest only the Animal Health and Baby Food units, with combined annual sales of $5.5 billion.
Johnson & Johnson , the drugmaker that won approval last week for the first new AIDS medicine since 2008, plans to introduce four drugs this year that may combine for annual sales of $9 billion, helping to offset product recalls and declining profit for medical devices.