Teva Pharmaceuticals' board of directors will begin the search for a full-time replacement for Erez Vigodman, who is stepping down immediately and will also leave the board. Photo: ReutersSan Francisco/Tel Aviv: After a string of setbacks, Teva Pharmaceutical Industries Ltd is facing another round of dramatic upheaval. To compound matters, Teva lost court cases that sought to stop competitors from selling cheaper versions of its lead product Copaxone, the multiple sclerosis injection that makes up about a fifth of sales. Debt levels at Israel’s largest company now exceed its market value. In a survey of clients, more than half supported Teva splitting itself in half, according to Umer Raffat, an analyst with Evercore ISI said.

Source: Mint February 07, 2017 08:45 UTC