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Health: How ex-Israeli star Teva is looking to bounce back

2023-05-22T18:10:24.885Z

Highlights: The world's number one generics company, Teva, fell back into the red last year. The company's net debt now stands at $18.4 billion. The new CEO of Teva is aiming to get the company back on track by the end of the year. He says his plan will allow the company to be "stronger, bolder and simpler" in its operations. The plan is to reduce the company's debt by $1.5 billion by the year 2020. The goal is to make the company more profitable.


The laboratory, the world's number one generics, has experienced five years of declining sales.


This is Teva's last chance plan. Four months after taking office, Richard Francis presented his roadmap to get the world's number one generics out of the rut.

The new CEO of the Israeli laboratory will have had little time to refine his strategy. Because the urgency is there. Teva fell back into the red last year. After seeing its turnover peak at $ 22.4 billion in 2017, the company has chained five consecutive years of decline in sales, falling to less than $ 15 billion in 2022 (-6%). Richard Francis, a Novartis alumnus, is giving himself by the end of 2024 to bring the lab back to growth. He said he was "very excited about the future of Teva," convinced that his plan will allow the company to be "stronger, bolder and simpler." But the task does not look easy for Teva, whose net debt still stands at $ 18.4 billion.

Read alsoPharmacy: mergers and acquisitions under the radar of competition authorities

Known worldwide for its generics and biosimilars...

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Source: lefigaro

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