Teva Pharmaceutical Industries Ltd.’s new chief executive officer ousted the company’s three top division heads on Monday as he works to turn around and streamline the operations of the debt-laden drug maker.
CEO Kare Schultz, who joined Teva on Nov. 1, said he will combine the Israeli company’s generic and specialty drugs business, as well as the research and development groups for those units.
Shares in the world’s largest generic-drug maker, which have been in a year-long freefall owing to narrowing profit margins in generics and a series of pricey acquisitions, jumped as much as 6.4 per cent in New York trading on Monday.
Various media had reported last week that Teva planned to cut u…
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