Kåre Schultz (Christopher Goodney/Bloomberg via Getty Images)

Still car­ry­ing the bud­get axe, Kåre Schultz is wrap­ping up his stint at Te­va, promis­ing to start pay­ing opi­oid set­tle­ment

Al­most ex­act­ly five years ago, Te­va cap­tured the in­dus­try’s at­ten­tion with its high-pro­file re­cruit­ment of Kåre Schultz at Lund­beck for the top job at the trou­bled gener­ics gi­ant. And now the CEO has his last year in view as he promis­es to fin­ish the turn­around he had promised in 2017.

Schultz jumped to Te­va for an ini­tial pay pack­age worth more than $44 mil­lion — in­clud­ing a whop­ping $20 mil­lion bonus right off the bat. Plagued by thin­ning mar­gins and falling prices, he ini­tial­ly fo­cused on mak­ing deep cuts to the or­ga­ni­za­tion in an ef­fort to fix what ailed it while pay­ing down a heavy debt load.

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