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Drugmaker Teva hires Lundbeck CEO Schultz to restore its health

Reuters  |  JERUSALEM/COPENHAGEN 

By Steven Scheer and Stine JacobsenJERUSALEM/COPENHAGEN (Reuters) - Teva poached Lundbeck's Kare Schultz as its new chief executive on Monday, handing the drugs industry veteran the urgent task of convincing investors of the struggling Israeli firm's future.An acquisition spree saddled Teva with huge debts, eroding confidence in the world's largest generics drugmaker, whose stock has halved since early August when it cut its forecasts.One key initial decision for Schultz, who will be paid a base salary of $2 million a year plus various bonuses and stock options and is getting a $20 million ...

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First Published: Mon, September 11 2017. 19:41 IST
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