Teva’s New CEO Moves Quickly on Dealmaking

Recently, pharmaceutical company Teva has been facing numerous challenges. These include expiring patents for their top drugs, strong labour opposition to plans for restructuring, conflict between the Board of Directors and Management which resulted in the CEO’s departure, and shareholder unrest. Eyal Desheh, the CFO, has said that they have to make smart deals and partnerships like how Teva has done in the past. And these deals can be rapidly pushed forward by their newly appointed CEO, Erez Vigodman. Even though they seem to be reverting back to past practices, they are avoiding the old focus on small partnerships and acquisitions and cutting costs. Fortunately, share prices have been gradually rising back thanks to investors seeing potential in Teva’s new plan.