|Bid||3,549.00 x 200|
|Ask||3,550.00 x 34100|
|Day's Range||3,520.00 - 3,555.00|
|52 Week Range||2,175.00 - 8,315.00|
|Beta (3Y Monthly)||1.74|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 11, 2020 - Feb 17, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||26.00|
Shares of Teva Pharmaceutical Industries Ltd. rose about 9% in afternoon trading. Earlier this week, J.P. Morgan upgraded the drugmaker to neutral from underweight, with analysts noting that Teva's "near-to-mid-term fundamentals are stabilizing." The stock is on track to close at a 6-month high. Teva's stock is down 38.72% year-to-date, while the S&P 500 is up 24% year-to-date.
Moody's Investors Service ("Moody's") assigned Ba2 ratings to the proposed $1.5 billion of Euro-denominated and US dollar-denominated unsecured notes offering by Teva Pharmaceutical Finance Netherlands II B.V. and Teva Pharmaceutical Finance Netherlands III BV, respectively. Moody's anticipates the proposed notes will be pari passu with all other existing senior unsecured debt. There are no changes to Teva's existing ratings, including the Ba2 Corporate Family Rating.
Pfizer stock has tumbled, below other pharmaceutical stocks. Recent news has been upbeat with a drug approval and acquisitions. But the question remains: Is Pfizer stock a buy right now?
(Bloomberg) -- Teva Pharmaceutical Industries Ltd. may pay triple its usual borrowing costs for its planned $1.5 billion bond sale as investors demand more for holding its debt on account of its links to the U.S. opioid epidemic, according to investors approached about the deal.The Israel-based drugmaker is meeting with debt investors in London and New York this week for its first debt issue since being hit early this year with billions of dollars in potential liabilities from lawsuits. Bankers marketing the January 2025 U.S. and euro-denominated non call notes are targeting yields of around 8% and 6% respectively, according to the money-managers, who asked not to be identified because the information isn’t public.The bonds, which will be used to refinance existing debt, are due to price early next week after the roadshow wraps up in Los Angeles on Monday.The yields represent a significant increase in the company’s existing funding costs, which average about 2.1% for euro debt and 3.7% for U.S. securities, according to data compiled by Bloomberg. Much of its existing debt at low coupons was issued before the company was downgraded to junk status starting 2017.Teva representatives were not immediately available to comment.Bookrunners on the deal are BNP Paribas, Citi and Goldman Sachs.Read more: Teva to Refinance $1.5 Billion of Bonds Maturing in 2021(Adds details about pricing on third paragraph)To contact the reporter on this story: Laura Benitez in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Vivianne Rodrigues at email@example.com, Chris VellacottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It’s been a rough 2019 for some biotechs. Amneal Pharmaceuticals Inc (NYSE: AMRX ) is down 81% year-to-date, while Teva Pharmaceutical Industries Ltd (NYSE: TEVA ) is down 41%. JPMorgan sees redemption ...
J.P. Morgan analyst Chris Schott upgraded the stock to Neutral from Underweight, but downgraded Amneal Pharmaceutical to Underweight.
Teva Pharmaceutical Industries Ltd. was upgraded to neutral from underweight by J.P. Morgan. Analysts wrote that they are "fairly bearish on the longer-term setup" for the Israeli drugmaker but noted that the company's "near-to-mid-term fundamentals are stabilizing." Sales of Teva's longtime top-selling drug Copaxone, a multiple sclerosis treatment, stabilized in the third quarter of 2019, and it raised its 2019 guidance for earnings per share and revenue. The company also said that it is moving forward with a global opioid settlement that would resolve pending and potential lawsuits. That agreement in principle was announced in October. Shares of Teva have fallen 40.68% year-to-date but are up 29.63% for the last three months. The S&P 500 has gone up 23% end-to-date.
Teva Pharmaceutical Industries Ltd. announced today that it has commenced tender offers to purchase for cash for a combined aggregate purchase
Teva Pharmaceutical Finance Netherlands III B.V. (“Teva Finance III” and, together with Teva Finance II, the “Issuers”) intends to offer USD-denominated Senior Notes (the “USD Notes” and, together with the Euro Notes, the “Notes”).
With the raging opioid crisis that has killed tens of thousands of Americans and injured millions more, it's understandable that state and local governments were not amused with big pharmaceuticals. Case in point is Teva Pharmaceutical (NYSE:TEVA). Over the past five years, Teva stock went from trading in high double digits down to single-digit territory.Source: JHVEPhoto / Shutterstock.com Granted, not everything involved opioids. A good portion of the damage done to Teva stock came from its ill-timed acquisition of Allergan's (NYSE:AGN) generic drugs business in 2016. Since then, the profit margins for generic drugs have fallen precipitously.This of course impacts Teva stock substantially. The underlying company is the world's biggest generic drug maker.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTypically, of course, Teva specializes in generics for high-priced medication that address severe symptoms or diseases. In other words, the company bridges the gap between a patient's ability to pay versus the help they need.However, the pharma company made the mistake of duplicating popular opioids. As a result, it fell under litigatory fire from multiple government bodies. In order to stop the bleeding in Teva stock, management secured a last-minute deal to settle all opioid-related lawsuits.Based on the deal's terms, Teva will donate $23 billion in opioid addiction treatment drugs -- a generic of the Suboxone drug -- and pay $250 million over 10 years. Naturally, the favorable agreement raised many eyebrows. * 7 Stocks to Sell Before They Roll Over Because the company is donating its generics, the basis of the $23 billion figure is suspect. By "inflating" the number via using the drug's list price -- which doesn't account for commonly given discounts -- the deal appears more favorable than it is.Still, despite the optics, this is a necessary move for the generics industry. Teva Rides a Blurry Line between Vindicator and VillainAlthough pharmaceuticals have strong long-term potential, I'm not the biggest fan of their products. Unless I'm having a health crisis, I prefer not to put anything unnatural in my body. And I'm especially not a fan when big pharma gets it wrong, like it did with the opioid crisis.While some people may want to see TEVA stock collapse entirely as poetic justice, I believe the settlement is fair. After all, the drug maker makes identical copies of branded (and comparatively expensive) medication. From my understanding, the company did not start the fire, but rather facilitated it.Whether Teva did so knowingly is up for debate. For what it's worth, the last-minute deal doesn't come with an admission of guilt.Granted, observers have a right to be skeptical. Nevertheless, I think we should consider Teva stock as a whole and not just in terms of the opioid crisis. Because here's where it gets blurry: Generics are lifesavers.I'm not making this comment to share an anecdotal tale. Just last year, the U.S. Food and Drug Administration approved a generic version of EpiPen. Designed to stop dangerous allergic reactions, EpiPen developer Mylan (NASDAQ:MYL) infamously raised the treatment's price by over 500%. The price hike was especially egregious because it negatively impacted children.Guess who provided the EpiPen generic? Teva.But does one right overturn a wrong? No, but that's not my point. Rather, generics serve a vital purpose in our complex and bloated healthcare system. According to the Association for Accessible Medicines, generics generated $265 billion in savings in 2017.With healthcare taking an increasingly larger chunk out of our wallets, the generic industry is simply irreplaceable. How to Approach Teva StockThere is absolutely no doubt that Teva stock is a speculative trade at this point. Beyond the opioid drama that has clouded pharmaceuticals, the company ballooned its debt while incurring declining revenue. That's not exactly the recipe for success.However, some good news has also appeared. Primarily, this came in the form of a contextually solid earnings beat. Although TEVA fell a bit short on per-share profitability, it beat revenue expectations. It's a small win on paper, but it confirms that the pharma is on the right track.Plus, as CBS News reported, drug prices have soared this year. Despite President Donald Trump's vow to rein in costs, healthcare remains a blight to the American people. It has caused some to skip out on expensive prescriptions or cross the border into Mexico for their medication.And while Democrats are well meaning with their proposal for free healthcare for all, let's face it: Money doesn't grow on trees. Thus, we may get our free healthcare but somehow, someway, we'll pay for it somewhere.And then we have Teva Pharmaceutical. Like a controversial comedian, it's vulnerable to a misfire. But with such vital need for reasonably priced medication, I don't think the perma-bear perspective makes sense.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks That Could Struggle to Continue Payout Hikes * 8 Consumer Stocks to Buy before Thanksgiving * 10 Stocks to Buy Regardless of Q3 Earnings The post With a Deal in Hand, Teva Stock Can Chart a Difficult Comeback appeared first on InvestorPlace.
Teva Pharmaceutical lagged Wall Street's third-quarter earnings forecast, but Teva stock rallied at the close Thursday on a sales beat and after the company boosted its full-year outlook.
Teva Pharmaceutical Industries Ltd.’s third-quarter results underscore the realities of its two-year-old restructuring plan under president and CEO Kåre Schultz.
As shares of (TEVA) soared 10% after the company reported solid earnings on Thursday, CEO Kåre Schultz said the litigation the company faces over its alleged role in the opioid crisis could be resolved by the end of this year. “I think that’s a realistic timeline,” Schultz said in an interview with Barron’s. If that happens, it would lift a weight that has helped drive Teva (ticker: TEVA) shares down 81% between the end of October in 2016 and the end of October this year.
JERUSALEM/NEW YORK (Reuters) - Teva Pharmaceutical Industries Ltd on Thursday expressed confidence in its ability to continue paying down its huge debt burden even if it is forced to pay billions of dollars to settle thousands of U.S. opioid lawsuits. Attorneys general of four U.S. states had agreed on a proposed settlement under which Israel-based Teva would provide $23 billion (£17.94 billion) worth of generic Suboxone and pay $250 million in cash over 10 years. Reuters reported that the generic Subaxone that Teva plans to give away as part of its settlement will likely cost the company far less than the $23 billion figure put forth by Teva based on the way the drugmaker plans to account for the value of the treatment.
JERUSALEM/NEW YORK, Nov 7 (Reuters) - Teva Pharmaceutical Industries Ltd on Thursday expressed confidence in its ability to continue paying down its huge debt burden even if it is forced to pay billions of dollars to settle thousands of U.S. opioid lawsuits. Attorneys general of four U.S. states had agreed on a proposed settlement under which Israel-based Teva would provide $23 billion worth of generic Suboxone and pay $250 million in cash over 10 years. Reuters reported that the generic Subaxone that Teva plans to give away as part of its settlement will likely cost the company far less than the $23 billion figure put forth by Teva based on the way the drugmaker plans to account for the value of the treatment.
The sprawling litigation seeking to extract billions from corporations over the opioid crisis is far from over, but investors could be forgiven for thinking it was on Thursday morning.
Teva (ticker: TEVA) announced diluted earnings per share of $0.58 for the quarter, one cent short of the S&P Capital IQ Consensus estimate of $0.59. The company narrowed its guidance for the 2019 fiscal year, projecting earnings per share of between $2.30 and $2.50. “During the third quarter, we continued to make significant progress in achieving our 2019 goals,” said Teva’s president and CEO, Kåre Schultz, in a statement.
Shares of Teva Pharmaceuticals Ltd. rose 1.2% in active premarket trading Thursday, after the Israel-based drug maker reported third-quarter results that missed expectations, but lifted the low end of its profit and revenue guidance ranges. Teva reported a net loss that widened to $314 million, or 29 cents a share, from a loss of $273 million, or 27 cents a share, in the year ago period. Excluding non-recurring items, such as legal settlements and amortization of intangible assets, adjusted EPS came to 58 cents, below the FactSet consensus of 60 cents. Revenue fell 6% to $4.26 billion, just below the FactSet consensus of $4.28 billion, due primarily to generic competition to its multiple sclerosis treatment Copaxone. North American Copaxone revenue fell 41% to $271 million and Europe sales declined 14% to $106 million. Teva revised up its 2019 guidance ranges for EPS to $2.30 to $2.50 from $2.20 to $2.50 and for revenue to $17.2 billion to $17.4 billion from $17.0 billion to $17.4 billion. The FactSet consensus is for 2019 EPS of $2.41 and revenue of $17.36 billion. The stock has tumbled 47.5% year to date through Wednesday, while the S&P 500 has hiked up 22.7%.
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) announced today the appointment of Eli Kalif as Executive Vice President and Chief Financial Officer. Mr. Kalif will begin his employment on December 22, 2019. Mr. Kalif joins Teva with broad experience in corporate and operational finance, most recently as Senior Vice President, Finance, leading the finance organization that supports the Global Operations, Components & services business at Flex Ltd. (FLEX), a global technology design and manufacturing service provider with extensive operations that include 85 production sites in 30 countries.
Israeli drugmaker Teva has put another $468m aside for legal settlements related to the US opioid crisis, taking its provisions to almost $1.2bn so far this year. The rising legal bill pushed the company deeper into the red in the third quarter, according to results released on Thursday, but Teva shares jumped by around 10 per cent as it nudged up revenue and earnings forecasts for the full year.
Teva Pharmaceutical Industries is scheduled to report third-quarter earnings on Thursday, and the struggling generic drugmaker’s recent opioid settlement is expected to take center stage.