The changing of the guard: New CEOs move in

Recent months have seen a slew of management changes at major generics companies. Some of this has been driven by shareholder dissatisfaction with poor performance (Teva being the obvious example here), but there have also been generational and other shifts that offer interesting pointers...
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Oy Vey, Teva!

Things appear to be going from bad to worse at Teva, which is giving the strong impression of being in meltdown. One can only hope that the recent Q2 results, which featured an eye-watering $6.1bn write-down of the company’s recently-acquired Actavis generics assets, mark...
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Hartmut Retzlaff falls victim to barbarian hordes

The announcement today that Hartmut Retzlaff has stepped down as CEO of Stada ‘due to a serious long-term illness’ comes as something of a surprise, but the reasons are not hard to discern. For weeks, activist investors in the form of a group called...
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Into the void: All change in UK generics in 2016

Teva’s announcement last year that it was to acquire Allergan’s generic assets (‘Actavis’), came as a total surprise to the market. All the more so since Teva was, at the time, in hot pursuit of Mylan. It was particularly startling news in the UK,...
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Midsummer M&A madness

The generic/specialty pharma M&A frenzy appears to have reached its apogee in recent days, with Mylan making an unsolicited bid for the OTC specialist, Perrigo and Teva subsequently bidding for Mylan – conditional on the Perrigo bid being dropped. Share prices have risen all...
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Hikma: Up and away?

Crunch time may be approaching for the CEO of Hikma, Said Darwazah. Rumours have circulated recently that Hikma has received an approach from Mylan, an event which, if true, will pose a dilemma for the company’s Board. Hikma has, we believe, been the subject...
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Retail therapy: Is it the answer for Teva?

The past year has been a good one for investment bankers, lawyers and accountants, as companies have gone on a massive M&A binge fuelled by cheap debt and highly rated equity. It has also been a generally good year for shareholders, who are benefiting...
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Mylan sticks with the Abbott habit

Mylan’s July announcement that it planned to acquire Abbott’s developed markets business looked like the start of a possible series of deals between big pharma and generics companies, but the survival of the transaction appeared in doubt following AbbVie’s decision to back out of...
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