Issue Date: September 18, 2017
Teva snags new CEO from Lundbeck
The indebted generics giant Teva Pharmaceutical has ended a seven-month search for its fourth CEO in six years, nabbing Kåre Schultz from the same role at the neuroscience drug developer Lundbeck and quelling rumors that AstraZeneca’s CEO would take the job. Schultz will move to Teva’s headquarters in Israel, where he will likely face discussions about dividing the firm into two entities, one focused on generics and the other on new drug development. Lundbeck’s stock fell on the news, while Teva’s began rebounding after a 15-year low.
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