Volume 95 Issue 37 | p. 13 | Concentrates
Issue Date: September 18, 2017

Teva snags new CEO from Lundbeck

By Ryan Cross
Department: Business
Keywords: Generics, Teva, Lundbeck, Kaare Schultz
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Schultz
Credit: Lundbeck
A photo of Teva's new CEO, Kåre Schultz.
 
Schultz
Credit: 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.

 
Chemical & Engineering News
ISSN 0009-2347
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