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.
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Known worldwide for its generics and biosimilars...
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