Back in January, Jeremy Levin--then riding high as CEO of Teva--didn't think much of the company's program for an immune checkpoint receptor drug dubbed CT-011, or pidilizumab. Now Levin is out, and those checkpoint receptor drugs have emerged as one of the hottest R&D arenas in the industry.
Teva may not have actually planted a "for sale" sign on its front yard, but now that CEO Jeremy Levin has left the scene of many accidents some top analysts are offering to advertise it as a takeover candidate.
Teva has sketched out plans to ax 5,000 employees, about 10% of the total workforce, with most of the cuts coming by the end of 2014. The company statement on the restructuring is light on details, but the company says it plans to use part of its $2 billion in savings from the reorganization on an expanded R&D effort.
Teva Pharmaceutical CEO Jeremy Levin has highlighted another tactic to his company's revamped strategy to deliver new medicines as older brands face generic drug competition: boosting its investment in research of treatments for major brain disorders.
Teva's new CEO, Jeremy Levin, has been touting the company's plan to come up with a pipeline of late-stage drugs that take well-known medicines and give them a makeover for new uses.
With $4 billion of Copaxone revenue on the line, it's no surprise to find Teva waving a red flag to the FDA as Biogen Idec gets down to the regulatory wire with its closely watched competitor BG-12. The big generics company filed a petition with the FDA demanding an advisory committee meeting to inspect what it has called potentially "serious safety risks."
Unveiling his plan for the future of Teva Pharmaceutical Industries, CEO Jeremy Levin emphasized the need to shed research programs outside of its key focus areas and dial up development of new treatments for neurological and respiratory diseases.
New Teva CEO Jeremy Levin has inked one his first new drug deals since jumping from Bristol-Myers Squibb. Levin agreed to pay $41 million upfront and up to $335 million in milestones to collaborate with Canada's Xenon on a new pain program.
Teva investors are waiting for a word from CEO Jeremy Levin. But not just any word.
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.