Richard Francis, new Teva CEO (Novartis via Facebook)

Up­dat­ed: Te­va picks for­mer San­doz head as new CEO to re­place Kåre Schultz

Te­va has tapped the for­mer CEO of San­doz, Richard Fran­cis, to lead the Is­raeli gener­ics gi­ant, re­plac­ing cur­rent CEO Kåre Schultz.

Fran­cis led San­doz, the gener­ics di­vi­sion of No­var­tis, for five years from 2014 to 2019, leav­ing as No­var­tis be­gan mak­ing plans to spin out the unit. It’s been a chal­leng­ing sev­er­al years for gener­ics com­pa­nies, which have seen sup­ply chains dis­rupt­ed, pres­sure on how much they can charge for drugs, and stock prices in de­cline.

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