Watson Begins Anew As Actavis, Focuses On Organic Growth
This article was originally published in The Pink Sheet Daily
The traditionally generic-heavy company now has an expanded global presence and a growing branded business to go with its new name.
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Former Actavis Pharma President Olafsson has been appointed president and CEO of the newly formed Global Generic Medicines Group, which will consolidate Teva’s regional generic businesses under one group.
In his first public comments to investors, CEO Erez Vigodman said he will consider large acquisitions to drive growth at Teva, while deepening cost cuts and refocusing on generics to maintain Teva’s leadership position.
Teva’s new CEO addressed investors publicly for the first time May 1 and discussed his initial thoughts on plans to turn around the generic drug leader. Those include deeper cost cuts, a renewed emphasis on generic drugs and biosimilars, and potentially a large acquisition.