Erez vigodman teva pharmaceuticals stock

Teva Pharmaceutical Industries was left without a permanent chief executive on Tuesday after Erez Vigodman stepped down, leaving new management to restore confidence in the world's biggest generic drugmaker after a series of missteps.

A string of costly acquisitions, along with delayed drug launches, have sent Teva shares plummeting and led to calls for management and structural changes, including a possible split into separate generic and branded medicine units.

Teva Pharmaceutical Industries : CEO exits in ongoing crisis of ...

Teva, Israel's largest company, said late on Monday that Vigodman was departing immediately and would be replaced on an interim basis by Chairman Yitzhak Peterburg.

Investors say Teva, which faces pricing pressure in its core generics business and recently lost patent protection on its key branded drug Copaxone for multiple sclerosis, must choose a new CEO with extensive pharmaceutical experience.

The new boss needs to set a clear strategy, said