Teva CEO says 15 factories will close in next 2 years; Teva stock drops 10 percent.
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After disappointing reports and recording a six billion dollar loss, Teva CEO Yitzhak Peterburg spoke with investors in a conference call and discussed Teva's plans to extricate itself from the crisis.
Peterburg said the company is expected to close 15 factories around the world within the next 2 years.
Following its reports, Teva stock nosedived by 10% when trade on Wall Street opened and 11% at the Tel Aviv stock exchange.
