Te­va de­nies big lay­offs are planned, but will push greater ef­fi­cien­cy and shut­ter floun­der­ing ef­forts

With its ex­ec­u­tive suite in tur­moil, its flag­ship drug un­der at­tack and its books bur­dened by debt fol­low­ing years of drought in its R&D arm, Te­va is re­port­ed­ly prepar­ing to un­leash a ma­jor re­or­ga­ni­za­tion that will cost thou­sands of jobs. But af­ter first stay­ing mum on the sub­ject, the Is­raeli phar­ma com­pa­ny now says it isn’t bring­ing out the ax but will in­stead pur­sue a va­ri­ety of ef­fi­cien­cy mea­sures.

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