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Teva Pharma targets R&D, other areas in plan to trim $2B

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Teva Pharmaceutical Industries ($TEVA) CEO Jeremy Levin today gave Wall Street an early picture of what the company will look like going forward and it showed it having a much slimmer profile. He said it will cut up to $2 billion in costs over the next 5 years as it remakes itself into something more than just a generic drug manufacturer. Yet in the process of beefing up its capacity to bring novel therapies to market, the drugmaker wants to finds some of its savings from R&D cost-chopping. Article