Teva eyes acquisitions to spur growth

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Teva eyes acquisitions to spur growth

By Tova Cohen TEL AVIV (Reuters) - The new chief executive of Teva Pharmaceutical Industries said the company will examine acquisition opportunities as it seeks to refocus on its generics business, expand in emerging markets and invest in the biosimilars sector. Teva, the world's largest generic drugmaker, has faced increased competition in recent years and its growth has slowed. The company had grown rapidly on the heels of several significant acquisitions but it had scaled back on major purchases in the last few years. Israel's largest company in February brought in turnaround specialist Erez Vigodman, who is tasked with implementing cost cuts and improving the generics business, where profits have waned as competition grows and opportunities fade.

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