Teva's New CEO Francis Takes Over A Steadier – Though Still Rocky – Organization
Teva announced the appointment of former Sandoz CEO Richard Francis as its next leader as Kare Schultz steps down.
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In this week's podcast edition of Five Must-Know Things: a preview of the CTAD Alzheimer’s meeting; US myeloma drug withdrawal puts pressure on GSK; UniQure/CSL's gene therapy sets new US price record; new leadership at Teva; and Merck’s Frazier cautions against profit maximization.
The company will buy Oyster Point Pharma and Famy Life Sciences for $700m to $750m in total as management tries to move the business towards more innovation.
Teva is expecting to have a new CEO by the end of next year, after current leader Kåre Schultz indicated that he was unlikely to renew his contract. The president and chief executive has overseen an eventful and transformative period for the Israeli firm.