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Teva CFO retires as Q3 FY07 profits decline

Teva Pharmaceutical Industries revealed a 13 per cent drop in Q3 FY07 profits and also announced the retirement of its CFO, Dan Suesskind.

Teva Pharmaceutical Industries revealed a 13 per cent drop in Q3 FY07 profits and also announced the retirement of its CFO, Dan Suesskind.

Teva posted a decline in Q3 net income to USD 525m (USD 0.64 per share) from USD 606m (USD 0.74 per share) in Q3 FY06. The companyπs quarterly sales were USD 2.4bn in Q3, up from USD 2.3bn in the same quarter a year earlier.

Suesskind will retire in mid-2008 after spending 31 years with the pharmaceutical firm. He will be replaced by Eyal Desheh, the CFO of Israeli Check Point Software Technologies.

30th September 2008

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