Teva Makes Abrupt Leadership Changes, but Still Faces Large Hurdles
Following Kare Schultz recently taking the CEO helm at Teva, the company has announced a new operating structure with some executive changes. Management also plans to unveil a detailed restructuring play by mid-December. While investors may appreciate Schultz’s swift action, we don’t plan to change our fair value estimate or no-moat rating on the news since Teva must still contend with extensive competition in the generic drug industry, Mylan’s recent launch of generic Copaxone 40mg, and high fi...
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