TEVA POSTS LOSS IN Q3 AS JOB CUTS CONTINUE
Teva Pharmaceutical Industries on Thursday reported a third-quarter loss as it proceeds with an aggressive cost-cutting program and adjusts to declines in key product categories. As part of its restructuring, the company has already eliminated some 9,000 of the 14,000 jobs it promised to cut by the end of 2019. It also has cut costs this year by $1.8 billion, more than half of the savings it has targeted by the end of next year. Teva posted a loss of
$273 million, compared with a profit of
$530 million a year earlier.