The laboratory, world number one in generics, has experienced five years of decline in sales.
This is Teva’s last-ditch plan. Four months after taking office, Richard Francis presented its roadmap to get the world’s number one generics company out of the rut.
The new CEO of the Israeli laboratory will have had little time to refine his strategy. Because the urgency is there. Teva fell back into the red last year. After seeing its turnover peak at 22.4 billion dollars in 2017, the company has chained five consecutive years of decline in sales, falling to less than 15 billion in 2022 (- 6%). Richard Francis, a former Novartis, is giving himself by the end of 2024 to bring the laboratory back to growth. He said to himself “very excited about the future of Teva”convinced that his plan will allow the company to be “stronger, bolder and simpler”. But the task does not look easy for Teva, whose net debt still reaches 18.4 billion dollars.
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Known worldwide for its generics and biosimilars…