Teva's new CEO Richard Fran­cis is plan­ning a 'new chap­ter' for the gener­ics gi­ant

Best known as a gener­ics mak­er, Te­va Phar­ma­ceu­ti­cals is lean­ing in­to R&D as CEO Richard Fran­cis plots a “new chap­ter” for the com­pa­ny.

That will in­volve the con­tin­ued con­sol­i­da­tion of its man­u­fac­tur­ing net­work, CFO Eli Kalif an­nounced dur­ing a first-quar­ter earn­ings call Wednes­day. Over the last five years, Te­va has gone from 80 man­u­fac­tur­ing sites to around 52, with plans to close or di­vest three more by the end of the year, and four more be­yond 2023. The goal is to cre­ate the “most ef­fi­cient and op­ti­mal net­work,” Fran­cis said in an in­ter­view with End­points News.

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