Teva Pharmaceutical Industries Ltd.'s newly appointed CEO, Kare Schultz, brings turnaround experience as the drugmaker faces challenges including generic drug pricing pressure in the U.S. and a substantial debt load.
“We think Mr. Schultz’s experience leading financial and restructuring initiatives at global pharmaceutical and healthcare companies could help unlock value for TEVA shares,” wrote Cantor Fitzgerald & Co. analyst Louise Chen in a note on Monday, Sept. 11.
Oppenheimer & Co. Inc. analyst Derek Archila wrote that while he views the news positively, Schultz “will be entering the company at a turbulent time, given: (1) continued pricing pressure in US generics; (2) TEVA’s meaningful debt and inability to de-lever in a timely manner; and (3) high likelihood of Copaxone 40mg generics in 2018.”
