Teva Quits Oncology, Women’s Health R&D

In an overhaul of its R&D operations, Teva Pharmaceutical Industries is exiting research in women’s health and oncology and shedding 14 related programs from its pipeline. The Israeli drug firm says it will retain its sizable commercial presence in the two fields and keep an eye out for potential partnerships involving market-ready products. Discontinuing or selling the drug candidates is expected to save Teva some $150 million next year and more than $200 million in 2016 and 2017. The firm says the roughly $550 million in savings will be put toward R&D in central nervous system and respiratory diseases. It isn’t saying how many jobs will be affected by the cutbacks.