Friday, 20 April 2018 - 20:52
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Teva

Major restructuring with staff cuts in US for Teva

The Kansas City Business Journal has reported that Teva is in talks with Orlando, Florida-based biotech AssistRX to sell its Overland Park Patient Services & Solutions unit. The arm employs 200 people and provides support to patients with Parkinson’s disease…

Good news for Teva at last: generic to Lialda launched

Good news are coming from Teva at last: the Israeli-based pharmaceutical group has announced it has launched the generic version of Lialda (mesalamine) 1.2g in the US. Mesalamine is indicated for the treatment of ulcerative colitis, a disorder affecting over…

Teva CFO describes business rationalization plan

Teva Pharmaceuticals CFO Michael McClellan has met investors at the annual meeting organized by Cowen & Co. in Boston. On the occasion McClellan has announced that his group plans to interrupt its NTE plan, started by the former CEO Jeremy…

Face to face comparison Teva and Merck KGaA

Israel-based daily Globes yesterday published an article comparing Merck KGaA’s and Teva’s strategies.  The analysis focuses on the events from 2012 onwards, as Merck Serono–a subsidiary of Merck’s–closed down its oncology R&D center in Geneva, dismissing 580 employees. The decision…

Hardship not to end for Teva: guidance for 2018 cut down

The negative momentum seems to never end for Teva. The company’s shares today decreased by almost 10% (Wall Street) as the Israeli group’s management announced a forecast downgrade for 2018, despite a drastic price cut plan that resulted in 14,000…

US groups stronger and more competitive thanks to fiscal reform

The JP Morgan Healthcare Conference, which has just ended in San Francisco, has given analysts an opportunity to analyze the different views of big pharma companies’ CEOs . The fiscal reform proposed by the Trump administration has been a widely-debated…

Teva discloses new details on job cuts and shares soar

Teva CEO Kare Schultz has announced the group’s strategy for the next months. The newly-appointed chief executive is focusing on improving the company’s profitability, even risking a decrease in revenues–contrarily to the previous management’s approach. Additionally, Schultz has confirmed that…

Novartis exploring sale of part of Sandoz USA ($2-3bn)

Novartis is allegedly planning to divest part of Sandoz’s US assets for a total of approximately $2-3bn. The businesses on sale reportedly include the dermatology unit, with a minimum estimated value of $1.5bn, plus other assets with products that the…

Acquisition of Ignyta fetches almost $100m to Teva from Roche

Israel-based Teva has unexpectedly received a cash injection as Roche has acquired Ignyta for $1.7bn, thanks to Teva owning 5% of the American biotech’s shares. Teva sold to Ignyta the rights to four cancer drugs in March 2015, in return…

Topaz brothers (Ham-Let) targeting Teva Medical division

Shmuel and Dan Topaz, brothers and owners of Ham-Let industrial group, have announced they are willing to acquire Teva’s division specialized in medical devices. The news was reported by the newspaper Haaretz, which added that the Topaz brothers already have…

FDA accepts BLA for Teva’s fremanezumab

Teva Pharmaceutical today has announced that FDA has accepted its BLA (Biologics License Application) for fremanezumab, an anti-CGRP monoclonal antibody for the preventive treatment of migraine. Additionally, the Administration has granted Fast Track Designation to the product for the prevention…

Teva launches Viagra generic in US

Viagra was approved by FDA in 1998 and has fetched Pfizer billions of dollars worldwide since then. Considering the 2003-2014 period, Viagra’s total revenue is $21.975bn, that is $1.83bn per year on average. Viagra is sold at $65 in the…

The dreaded announcement: Teva to cut 14,000 jobs globally

Teva today announced in a rather gloomy announcement, two hours before trading opened in Europe, a plan to dismiss 14,000 employees globally, that is 25% of the Israeli’s group workforce. Teva will contact the employees requested to leave over the…

New rumors about massive layoffs in Teva

New rumors about Teva planning to dismiss 10,000 employees within the next two years are circulating. The move would ensure a price cut of approximately $1.5bn. Teva has 57,000 employees worldwide, 24,000 of which in Europe and 6,800 in Israel….

Teva seeks to divest Medis

Teva’s shares (Wall Street) rose by over 5% as trading opened, as rumors about an impending divestiture of its Icelandic subsidiary Medis started circulating. Teva has reportedly hired Citibank to sell Medis before the end of Q1 2018. Medis is…

Excellent Phase III results for Teva’s chronic migraine therapy

The New England Journal of Medicine yesterday reported in a relevant article the results from the Phase III HALO trial, designed to assess the investigational drug fremanezumab, developed by Teva, on 1130 patients. The medicine, believed to be the most…

Kare Schultz, new Teva CEO, marks new era: top management turnaround

The Wall Street Journal yesterday published a long article about the first decisions taken by Teva’s new CEO Kare Schultz. Teva’s shares yesterday rose over 7% (Wall Street) as Schultz announced he would reorganize the group’s top management. As part…

Teva ready to expand in China

Teva is reportedly ready to create a joint venture in China, through a deal with local partner Guangzhou Pharmaceuticals. The new JV is expected to focus on manufacturing and marketing generics in China, which is now the second market in…

Teva keeps struggling: another disappointing quarter

Teva Pharmaceuticals today announced its third-quarter financial results, which turned out to be far below expectations. Investors soon lost interest in the company, whose shares declined over 19% as trading opened (Wall Street). Sales of the Tel Aviv-based group were…

Migraine, Teva submits BLA to FDA for fremanezumab

Teva Pharmaceuticals Industries has announced it has submitted a BLA (Biologics License Application) to FDA for fremanezumab, an anti-CGRP monoclonal antibody for the prevention of migraine. The application is based on results from the HALO clinical trial program, which enrolled…

Optimism about Teva’s future, despite recent issues

Teva’s shareholder and executive Chaim Hurvitz is positive about the group’s future, he has said in an interview. According to the manager, the $35bn debt generated as Teva acquired Actavis is manageable, because banks are not putting pressure on the…

Increasing hardship for Teva: Mylan’s generic to Copaxone approved

Teva Pharmaceuticals is experiencing extremely hard times: the FDA today approved for commercialization the generic drug to Copaxone, developed by Mylan. Copaxone is a blockbuster for the treatment of multiple sclerosis, which generated $4.2bn in 2016 ($2bn in H1 2017),…

Hard times for Teva Pharmaceutical

The German economic and financial monthly Manager Magazin has published a long article about the Israel-based drugmaker Teva, whose recent misadventures have made it a typical mismanagement case. Teva is headquartered half an hour’s drive from Tel Aviv, in a…