Teva implements impressive recovery strategy

The thorough restructuring imposed by new CEO Käre Schultz is yielding results. This is clear from the fact that, since Schultz’s appointment as CEO, Teva (Nasdaq) shares have risen 115% on the stock exchange. Moreover, Goldman Sachs’s analysts have improved the company’s rating and raised Teva’s target price on the stock to 3%. In fact, merchant bankers did seem impressed with the work of Kåre Schultz (CEO), Mike McClellan (CFO), and Brendan O’Grady (EVP North America), and with how well the group has implemented its recovery strategy. Also, blockbuster Copaxone sales are still good despite pressure exerted by off-label drugs, which is helping Teva’s recovery strategy, along with the positive sale prospecting for Austedo (TD) and Fremanezumab.Analysts have also appreciated management actions aimed at reducing the company’s large debt accumulation caused by the latest takeovers.

 

(Source Globe)