During a conference call Wednesday, Teva Chairman Dr. Phillip Frost said the company and Levin had recently taken differing views about how to carry out the change in direction for the company.
Teva, one of the world's largest generic drug makers, had announced plans late last year for a restructuring that involves reducing its workforce by about 5,000 employees and divesting what it considers non-core assets. Core programs include high-value generic drugs and the development of specialty pharmaceuticals and its over-the-counter businesses, Teva has said.
Frost then said that he and the board “ultimately concluded together that it would be best to part ways.”
The company is expected to report its third-quarter financial results Oct. 31.
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