Teva Pharmaceutical Industries Ltd.’s plan to reformulate or repurpose existing drugs will generate $3 billion of sales by 2020, part of a strategy to counter a decline in revenue from its best-selling Copaxone multiple sclerosis treatment.
In a year when Teva Pharmaceutical Industries Ltd. lost its chief executive officer, a patent ruling on its best-selling drug and analysts became the most bearish on the stock, the Israeli drugmaker is poised for the first gain since 2009.
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.
Teva Pharmaceutical Industries Ltd. fell for a fourth day as better-than-estimated earnings failed to assuage concern that the abrupt departure of Chief Executive Officer Jeremy Levin will disrupt the drugmaker’s turnaround.
Teva Pharmaceutical Industries Ltd. Chairman Phillip Frost said he backed the management’s strategy following criticism from Goldman Sachs Group Inc. and Morgan Stanley analysts who are advising investors to sell.
Teva Pharmaceutical Industries Ltd., the drugmaker whose chief executive officer left yesterday in a dispute with the board, reported third-quarter profit that beat estimates after raising prices on its top-selling product.