Kare Schultz, Teva CEO, announces new data showing the worst phase is now over

Teva CEO Kare Schultz has stated at the JP Morgan health conference, held in San Francisco in these days, that his group has significantly reduced indebtedness, which had reached colossal levels as a result of the many acquisitions made by the previous CEO.

The drastic cost-cut plan including dismissals, facility shutdowns and asset sales has reduced Teva’s debt to $27bn. On the occasion, Schultz has informed that Teva’s analysts think that generic prices in the rich US market have stabilized and the spiral leading them to substantially drop over the last two years has got to stop.

In the near future, Teva will keep focusing on cutting costs and will commit to launching new products, such as the new migraine treatment Ajovy, which many people expect to become a blockbuster with a potential 30% market share in the US.

(Source: Globe)