Teva to narrow focus on central nervous system and respiratory businesses

Teva has announced that it will be tightening its focus on core specialty therapeutic areas following a strategic review.

The firm will be narrowing its research activities to centre on the central nervous system and respiratory markets, in which it already has a significant presence. It will be redoubling its efforts to gain a leadership position in these fields.

In other therapeutic areas such as women's health and oncology, the company will dial back its activities, focusing on market-ready or close-to-market assets, or possible opportunities for commercially-oriented activities and collaborations.

Moreover, Teva has identified 14 pipeline projects for potential discontinuation or divestment, which will free up funds that can be redirected towards core areas.

Erez Vigodman, Teva's president and chief executive officer, said: "The decision announced today demonstrates progress in our efforts to solidify the foundation of the company, drive organic growth and ensure that we are pursuing the highest potential opportunities."

The firm is currently preparing its financial results for the third quarter of 2014, which will be announced on October 30th.