• linkedin
  • Increase Font
  • Sharebar

    Teva Laying Off Employees in Israel and United States

    The world's largest generic drug manufacturer is laying off thousands of employees.

    Teva Pharmaceutical Industries, the world's largest generic drug manufacturer, is cutting 20% to 25% of its workforce in Israel, where it employs 6,860 people, and thousands in the United States.

    Reuters reported that Calcalist, a financial newspaper based in Israeli, said that Teva’s new Chief Executive Kare Schultz, is "working out the details with regional management in Israel and the United States."

    Schultz added that the company’s generic and specialty drugs business, and the research and development groups will be combined.

    Michael Hayden, Chief Scientific Officer and President of Research and Development, is among those being terminated.

    Anthony Vecchione
    Anthony Vecchione is Executive Editor of Drug Topics.


    You must be signed in to leave a comment. Registering is fast and free!

    All comments must follow the ModernMedicine Network community rules and terms of use, and will be moderated. ModernMedicine reserves the right to use the comments we receive, in whole or in part,in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

    • No comments available