Amid a two-year cost-cutting plan, upping revenues wasn't necessarily Teva's main focus; still, it must have nagged the Israeli drugmaker to watch its pharma portfolio flag in 2019. However, with its multibillion-dollar restructuring wrapped up, Teva sees better days on the horizon, legal dangers aside.
Teva hit $16.89 billion in net revenue in 2019, an 8% drop tied to generics pricing pressure abroad and the continued decline of multiple sclerosis blockbuster Copaxone. The drugmaker posted $18.27 billion in net revenue the year before.
The end of 2019 marked the end of CEO Kåre Schultz's $3 billion plan that resulted in around 13,000 employees laid off; 23 manufacturing sites closed, divested or soon to be so; and 40 offices and laboratories shuttered.