Teva set to shed 11 manufacturing sites in 2019
Teva plans to close or divest 11 manufacturing sites this year as its cost-cutting drive gathers momentum. At the 2018 J.P. Morgan Healthcare Conference, Teva CEO Kåre Schultz announced plans to close or divest between 20 and 25 plants in 2018 and 2019 as the company works to reduce its manufacturing footprint.
Teva looks to be slightly behind that pace, although broader restructuring efforts are progressing quickly. In 2018, the company reduced expenses by $2.2B and predicts it will cut another $3B from its spend base this year.
