BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Teva Pharmaceutical Industries Limited (TEVA) Plans Sweeping Reorganization


11/30/2012 11:32:34 AM

Teva Pharmaceutical Industries Ltd , the world's biggest maker of generic drugs, announced an ambitious plan on Friday to reshape the company as it faces increased competition for its top-selling multiple sclerosis drug Copaxone. The Israeli-based company said it plans to streamline operations, cut costs and make targeted acquisitions to improve profitability. It will discontinue certain research programs and integrate functions ranging from ordering to inventory control. Teva said profit excluding some items will be between $4.85 and $5.15 a share in 2013, while revenue will be $19.5 billion to $20.5 billion. Analysts were on average forecasting earnings of $5.71 a share and revenue of $20.85 billion, according to Thomson Reuters I/B/E/S. Teva will outline its plans in detail at an investor day on Dec. 11. In the meantime, it is predicting sales of Copaxone will fall somewhat in 2013 as it faces competition from new drugs for multiple sclerosis. A new drug that is expected to be approved shortly from Biogen Idec Inc, BG-12, is expected to pose particularly strong competition. The reshaping of Teva is being driven by its new chief executive, Jeremy Levin, a former senior executive at Bristol-Myers Squibb, who says he wants to make the company more transparent and responsive to shareholders.

Read at Reuters
Read at Bloomberg

Reuters
Bloomberg
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->