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.

Kåre Schultz, who officially took the reins at Teva from the start of November (Generics bulletin, 3 November 2017, page...

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