TEVA: "Te vás..." o de como un genérico "enferma" de Propiedad Intelectual.
Generic drugs giant Teva, one of the main beneficiaries of pharma's years-long patent cliff, said it will lay off about 5,000 employees as it braces for the expiry of one of its own specialty brands.
Its lead drug, the blockbuster MS injection Copaxone, had sales of $3.6 billion last year, up 13% vs. 2011, according to IMS Health, but is set to lose patent protection next year. As the Israeli firm has diversified away from generics—specialty brands now account for about 40% of revenue—Copaxone's loss of exclusivity highlights the pitfalls.
The layoffs, which amount to 10% of the workforce, are coming as part of an effort to decrease operating costs previously announced by CEO Jeremy Levin. The chief executive vowed to cut the fat after revenue slid 7.5% last year. Efforts also include divesting non-core assets. (Más)
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