Market reacts coolly to Teva's new strategic plan
Teva aims to reduce its expenses by $1.5 billion to $2 billion a year thanks to $1 billion to $1.2 billion cuts in its costs of sales.
Since Jeremy Levin's appointment as CEO of Teva Pharmaceutical Industries at the beginning of last May, the company's stock has earned 1.6%, including three dividends, while the Nasdaq index has gained 3%. The market reacted to Tuesday evening's presentation of Teva's new strategic plan - which took six months to prepare with the assistance of two leading consulting firms - with a 2% decline in the trading price...
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