Swingeing cuts planned at Teva, local press report

23 November 2017
drugs_pills_tablets_big

Local Israeli press are reporting that Teva Pharmaceutical Industries (NYSE: TEVA) is about to cut a fifth of its global workforce of nearly 60,000, mostly in the USA.

Economic daily Calcalist says that the embattled generics major has drawn up plans to fire a quarter of local employees.

Some form of cost-cutting program has been expected, after the company reported weak financial results for the second and third quarters, including the revelation that it would miss its 2017 profit forecast.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Generics