Teva CEO exits in ongoing crisis of confidence at drugmaker

Erez Vigodman, President and CEO of Teva Pharmaceutical, participates in a panel discussion at the 2015 Fortune Global Forum in San FranciscoTeva Pharmaceutical Industries was left without a permanent chief executive on Tuesday after Erez Vigodman stepped down, leaving new management to restore confidence in the world's biggest generic drugmaker after a series of missteps. Teva, Israel's largest company, said late on Monday that Vigodman was departing immediately and would be replaced on an interim basis by Chairman Yitzhak Peterburg. Investors say Teva, which faces pricing pressure in its core generics business and recently lost patent protection on its key branded drug Copaxone for multiple sclerosis, must choose a new CEO with extensive pharmaceutical experience.

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