The chief executive of Teva Pharmaceuticals on Thursday said he is making “strong progress” on the company’s restructuring plan, even as the company posted a huge loss and forecast a challenging 2018.
In an interview, CEO Kare Schultz said he remained confident about the company’s long-term prospects, laying out a two-year turnaround timeline and predicting a “clear move upward” in 2020.
The restructuring has marked a stunning setback in Israel for a company seen as a national source of pride.
Teva posted a loss of $11.54 billion, or $11.41 a share, in the fourth quarter of last year, compared to a loss of $973 million, or $1.10 a share, for the same period a year earlier. Revenue fell to $5.46 billion from $6.49 billi…
Read the full article at: http://abcnews.go.com/International/wireStory/teva-chief-reports-strong-progress-restructuring-plan-52932094