Wave upon wave of bad news has hits Teva (TEVA) of late. The company announced abysmal quarterly results which saw its lead product suffer from generic competition, pinched margins across the board, and the reduction in shareholder returns via a 75% dividend cut.
The company also has a leadership problem. As the astute moderator at the Jefferies conference mentioned right off the gun, the company has been through 3 CEOs in four years, two of which had no pharma experience prior.
The company is being running by an interim CEO right now. The moderator also does not get a good answer as to whether forcing the CEO to live in Israel limits there pool of candidates, but if Valeant (VRX) can get a strong CEO in no time despite being in the middle of a huge scandal, why can't the world's largest maker of generics?