Life is sweet: Teva’s Beekeepers
Sharing our story at the largest healthcare conference.
In early January, Teva President & CEO Kåre Schultz spoke at the J.P. Morgan 36th Annual Healthcare Conference in San Francisco. He reviewed the key challenges facing the company, including the debt, generic competition for key specialty products, challenging environment in the U.S. generics market, and fewer than anticipated Generic product launches in the U.S.
He also referred to the measures Teva is taking to address these challenges and stabilize the business: "We believe we can turn Teva around in the short to medium term by significantly reducing our cost base, closely managing our liabilities, and divesting non-core assets," he said. “We are cutting costs everywhere we can, and where it doesn’t affect revenue generation… Our number one commitment is, of course, to all the millions of patients who use our products every day. So we will make sure that we will have no supply interruptions or problems in connection with this restructuring plan.”
A crucial component in turning the company around is taking a unified look at our financials and switching the focus from revenue to operating profitability: “You always need to maximize operating profit… That’s what we want to do going forward.”
Finally, Mr. Schultz noted that Teva had a very strong value chain, in both generics and innovative products, and that it had two growth engines: new specialty products and new generic launches. He said the company was now "fine-tuning the machine," and that he believes that Teva can be turned around with effective execution, the right culture, good analytics and aligned management.
Access Teva’s J.P. Morgan 2018 Healthcare Conference presentation and full webcast transcript here >