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Teva To Cut 10% of Staff

Restructuring program focuses on specialty medicines and OTC businesses

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Teva Pharmaceutical Industries Ltd., as part of its worldwide restructuring program introduced in December 2012, will reduce its global workforce by approximately 10% (5,000 employees), and will complete the majority of the reduction by the end of 2014. Teva will also evaluate whether it needs to trim assets that no longer fit its core business. The company plans to scale down “oversized parts” of the company while growing its generics business and core R&D programs, including expanding its ...

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