Board Chairman Sol Barer, PhD, also waived his right to cash compensation altogether as the debt-ridden pharmaceutical giant looks to lessen its $35 billion debt burden.
In late November, Teva outlined a reorganization plan aiming to address the drugmaker’s plummeting revenues and financial commitments. The pay cut is reportedly part of this restructuring plan.
More articles on supply chain:
Mylan reaffirms $1B share buyback plan
FDA: IV fluid shortage exacerbated by hurricane damage to Puerto Rico is expected to improve
Stanford Blood Center faces critical shortage of blood, notes the flu is keeping potential donors away
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.