Teva Intensifies Restructuring; 10-Percent Layoffs Planned

Teva Oct. 10 became the latest pharmaceutical giant to downsize and restructure, with the Israeli-owned company revealing fresh cost-cutting efforts and a 10-percent cut in headcount. Some 5,000 employees will be let go as part of a plan to “optimize” Teva’s business structure and sharpen its focus on “high potential” products such as complex generics and specialty drugs — areas of interest that include more than 30 late-stage programs, the drugmaker said.
Washington Drug Letter