Teva looks to reduce costs 'in every area'

Israeli generics specialist Teva Pharmaceutical (NYSE: TEVA) is implementing a cost-cutting program looking at all business areas.

Commenting on rumors that Teva plans to fire thousands of workers, the company said “We do not have a headcount target, as these activities are based on the right sizing of each individual area of our business.”

In a statement, the company told The Pharma Letter “Teva is looking to reduce costs in our business in every area, including, among other things, ending unprofitable activities and streamlining some activities and functions throughout the organization.”