| MGMT436: Strategic Management in a Global Context |
After less than 18 tumultuous months as the head of Teva, the world’s largest generic pharmaceuticals company, in October 2013 Jeremy Levin stepped down as CEO.
He had been brought into the company in January 2012 to change Teva’s strategy from that of the outgoing CEO and President Shlomo ‘lanai, a former high-ranking army officer, when it seemed clear that the target of achieving global sales of US$D 33bn by 2015 was no longer achievable, and the share price had subsequently collapsed.
Its third CEO within two years was appointed in 2014: Erez Vigodman, a company insider, who announced that Teva would introduce its third new global strategy in three years with a focus on product rationalization, organic growth, and cost-saving.
Teva in a nutshell
- World’s number one generic company
- 15th largest pharmaceutical company
- Sales of $19.7bn in 2015
- The product portfolio of over 1000 molecules
- Active in 120 countries
- 73 manufacturing sites
- 45,000 employees
