At least it plans to shut the door on at least half of its current manufacturing plants -- meaning 70+ could bite the dust over the next few years. This is part of a larger company initiative to save $2 B annually. Teva's CFO says most of the closings will come in its core generics business but much of the volume will be consolidated amongst fewer plants. He assures that there is still plenty of growth out there in this segment of the market.
The savings will help Teva to invest further in the specialty business and to make more inroads in the emerging markets like -- Brazil, Mexico, Southeast Asia and Russia. So far sites in Sellersville, PA and Irvine, CA are already beginning to close. Nine more facilities have been so designated to close in 2014. Addition by subtracton you could call it. See in-Pharma.
Posted by Bruce Lehr June 12th 2014.