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Israel's Teva Pharma appoints Lundbeck's Kare Schultz as CEO

Reuters  |  JERUSALEM 

JERUSALEM (Reuters) - Teva Pharmaceutical Industries Ltd named H Lundbeck A/S Chief Executive Kare Schultz as its new CEO and president on Monday, as it struggles with heavy debts and fierce competition for its generic drugs in the United States.Israel-based Teva's shares, which plunged after the company issued poor second-quarter results last month, rose 8 percent in early trade in Tel Aviv.Schultz will succeed Yitzhak Peterburg, who will continue as Teva's interim CEO until Schultz takes over.Schultz had been widely seen as heir apparent at the world's largest diabetes drugmaker Novo ...

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First Published: Mon, September 11 2017. 13:37 IST