Medications/Drugs News Headlines - Yahoo! News
Teva CEO exits amid crisis of confidence at drugmaker
The chief executive of Teva Pharmaceutical Industries has stepped down, leaving new management to overhaul the world's biggest maker of generic drugs and restore confidence after a series of missteps sent its shares plummeting. Teva, Israel's largest company, said on Monday Chief Executive Erez Vigodman was departing immediately and would be replaced on an interim basis by Chairman Yitzhak Peterburg. A string of questionable and costly acquisitions, along with delayed drug launches, has prompted calls for a management overhaul and structural changes - such as a spin off of its branded drugs businesses - to restore investor confidence.
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