Teva's Turnaround

THE JEROME CHAZEN CASE SERIES Teva Pharmaceuticals, the largest company domiciled in Israel, is a multinational pharmaceutical company that develops, manufactures, and distributes both patented and generic versions of ethical pharmaceuticals. In 2017, the company was in dire need of a turnaround plan based on a variety of factors: $17 billion in debt maturing in 2021; declining cash flows from its largest selling drug, Copaxone; intensified competitive challenges in its core generics business; and an inefficient organizational structure. In this case students are presented with detailed data on Teva's financial circumstances as well as an overview of the challenges facing the global pharmaceutical industry in order to determine whether the company can avoid the need for Chapter 15 protection.