TEVA - Teva Pharmaceutical Industries Limited

NYSE - NYSE Delayed Price. Currency in USD
7.91
+0.08 (+1.02%)
At close: 4:00PM EDT
Stock chart is not supported by your current browser
Previous Close7.83
Open7.87
Bid7.90 x 36100
Ask7.96 x 45900
Day's Range7.76 - 8.00
52 Week Range7.67 - 25.96
Volume17,325,897
Avg. Volume18,491,896
Market Cap8.721B
Beta (3Y Monthly)2.46
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend Date2017-11-27
1y Target EstN/A
Trade prices are not sourced from all markets
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    Teva Pharmaceuticals (NYSE:TEVA) is having a Monday of nightmares as some of the company's products have led to lawsuits, which brought about a major analyst downgrade, causing TEVA stock to plummet early in the week.Source: Shutterstock The Israel-based pharma business with a global reach suffered today as the company's opioid-linked litigation has only started to kick off, with thousands of new lawsuits on the horizon. The harmful painkillers recently led to a judge giving the green light for an $85 million settlement in the state of Oklahoma, ensuring that the company will not promote opioids in the state.This is only the tip of the iceberg for Teva, which had a Monday that saw Morgan Stanley lower the stock's rating from an Equal Weight to an Underweight. The firm added that its price target on TEVA stock has now decreased from $16 per share to $6 per share.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMorgan Stanley analyst David Risinger noted that the pharmaceutical giant, as well as competitors such as Endo International PLC (NASDAQ:ENDP), are experiencing "underappreciated risks" coming from buying group pressure, which are now more negative than predicted.These include a rise in generic competition, as well as the aforementioned opioid-related suits. The note arrived soon after Argus Capital upped its rating on TEVA stock to a buy with a $12 price target on July 5, 2019.TEVA stock fell 7.5% by day's end, while ENDO stock slid 3.7%. More From InvestorPlace * 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond * 7 Dependable Dividend Stocks to Buy * 7 Retail Stocks to Buy for the Second Half of 2019 * 10 Stocks to Sell for an Economic Slowdown The post Teva Pharmaceuticals News: Why TEVA Stock Is Sliding Today appeared first on InvestorPlace.

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  • Reuters6 days ago

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    [video]Teva Shares Slump on Opioid Litigation Risk Downgrade From Morgan Stanley

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  • ‘There’s Nothing to Give Them’: The Hunt for Lifesaving Epipens
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    (Bloomberg) -- A persistent shortage of Mylan NV’s EpiPen anti-allergy injectors is forcing patients and pharmacists to go to great lengths to get their hands on the lifesaving device.EpiPens, which can help stop a severe or life-threatening allergic reaction, have been hard to get since at least May 2018, when the Food and Drug Administration said the device was in short supply. While other options are available, including an identical lower-priced version of the device from Mylan, consumers have also struggled to secure alternatives thanks to uneven distribution, the reluctance of insurers to pay for similar treatments and uneasiness with unfamiliar products.Even patients who live near numerous pharmacies have been scrambling. Boston resident Justin Klaassen said he drove 45 minutes outside the city earlier this year to find EpiPens for his 7-year-old daughter. Everywhere he called within 10 miles of Boston was out of stock of the device, which carries a list price of more than $600 for a two-pack but has been scarce because of manufacturing problems.“My family has enough money to buy one with insurance, you know, and even two because you want one at school and you want one at home,” Klaassen said. “But there are families out there who can’t even afford one, and then you have the problem finding them.”EpiPens can be especially difficult to track down at the start of a new school year, when sales tend to peak. Teachers and staff in school districts across the U.S. have been trained to use the devices, while few have been shown how to use rivals like Adrenaclick and Auvi-Q. Some parents say that they worry that the few moments needed to get familiar with a new injector could be costly in an emergency.Pharmacists are racing to keep EpiPens on their shelves, scooping up fresh supply whenever they can. Ashley Seyfarth, the owner of New Mexico pharmacy Kare Drug, said she “plays the back-order game,” ordering from her wholesaler as soon as a shipment comes in regardless of whether she has prescriptions that need immediate filling.Steps taken by U.S. regulators in recent weeks suggest that they expect the deficit of EpiPen brand injectors to linger, meaning more headaches likely await parents of students returning to school next month. In June, the FDA said expiration dates for some devices would be extended by four months.Mylan has been providing information about EpiPen production and distribution shortages to the FDA on a weekly basis, said agency spokesman Nathan Arnold. The FDA can’t say when the shortage will end, he said.“The FDA looks at drug shortages on a national scale,” Arnold said. “There may be local shortages in any given area of the United States even when there are not national shortages."Mylan shares declined as much as 5.4% on Wednesday, the largest intraday decline in more than a month. So far this year, the drugmaker’s stock price has fallen by 32%.The current problems finding EpiPens can be traced back to September 2017, when Pfizer Inc.’s Meridian Medical Technologies division, which makes them for Mylan, received a warning from the FDA after allegedly failing to investigate hundreds of complaints about faulty devices.Pfizer spokeswoman Kim Bencker said the company is also frustrated by the unsteady supply and that EpiPens involve a “highly complex and technical” manufacturing process.“Despite our significant efforts, we do anticipate further supply shortages over the coming months,” Bencker said. “Product is routinely shipping, and we are committed to permanently resolving this availability issue as quickly as possible.”Mylan spokeswoman Lauren Kashtan said the company is sending shipments as soon as it receives the product from Meridian and encourages people to call customer relations for assistance in locating alternative pharmacies. The generic injector made by Mylan isn’t offically in shortage, according to the FDA.Production problems have also vexed makers of competing injectors. Amneal Pharmaceuticals Inc. lowered its earnings guidance for 2019 on Wednesday due in part to uncertainty about supplies of its generic version of Adrenaclick.Shares of the company declined as much as 37%, the steepest intraday decline since May 2010. Amneal’s product is also manufactured by Pfizer’s Meridian unit, Amneal spokesman David Belian said.Inventory IssuesPharmacists say that nailing down when they can get more EpiPens has been difficult. Carter High, owner of Best Value Rhome Pharmacy in Texas, said his wholesaler has pushed back the date when more injectors would be available several times.“As a parent, I look at that and think, God I wish I could help them,” High said. “I can’t. There’s nothing to give them because I just can’t get it.”High said he has also had difficulty obtaining Mylan’s generic EpiPens. At times, he said he gave patients epinephrine, the drug delivered by a shot from Mylan’s device, the “old-school way,” with a syringe. He said he tells patients to keep expired EpiPens because it’s “better to have something than nothing.”In the meantime, brand-name EpiPen prescriptions have swooned. After peaking at more than 580,000 in August 2016, there were just 27,000 in May 2019, according to data compiled by Bloomberg Intelligence.Going without an EpiPen can be dangerous for patients like Ashley Spencer, 29. She was eating a strawberry when she went into anaphylaxis on June 23. Her skin was bright red and itchy. Her throat was closing.Spencer, who suffers from a rare autoimmune disease, didn’t have an EpiPen. She’d been waiting for a refill for more than a week when her body developed the new allergy.“I can’t go a week and a half without it because my disease also can cause me to go into anaphylaxis at any time,” Spencer said. EpiPens “are crucial to my life.”“As a parent, I look at that and think, God I wish I could help them...There’s nothing to give them because I just can’t get it.”Insurance companies have sometimes balked at paying for pricier alternatives. High, the Texas pharmacist, said wholesalers “have plenty of Auvi-Q, but at $5,000 a whack, I can’t even get insurance to pay for that.” While some large pharmacy chains have struck agreements with EpiPen competitors to try to alleviate the shortage and reduce patients costs, others have struggled to get insurers to pay for alternatives.“Though there are other things out there, we can’t use them even if we can get our hands on them,” said Seyfarth, the pharmacist in New Mexico.Additionally, a new generic made by Teva Pharmaceutical Industries Ltd. has been difficult to track down, pharmacists say. “I’ve never actually seen Teva’s product in the marketplace,” said Hamilton, New Jersey, pharmacist Eklavya Lalwani.In an earnings call in May, Teva Chief Executive Officer Kare Schultz said the company is “ramping up the volumes” and is distributing its injector to Anda Inc., a supplier the drugmaker owns. “Any pharmacy who needs EpiPen can just call Anda, and they will get it within 24 hours,” Schultz said in May.Teva spokeswoman Kelley Dougherty said the company has no backorders for the product, but both High and Lalwani said it was indicated as out of stock in Anda’s ordering system on July 8.Elsewhere, Sandoz, a division of Swiss drug giant Novartis AG, said on Tuesday that Symjepi epinephrine injections, previously only given in hospitals and clinics, will now be available at pharmacies.Even when insurance covers another brand, some parents like Klaassen, in Boston, have trained their family and friends on Mylan’s device and don’t want to switch. Others such as Erin Malawer, who lives near Washington, switched her 14-year-old son to Auvi-Q but still tries to find at least one EpiPen, because she fears that his friends or teachers might not recognize an alternative device in an emergency.“If you’re looking for an EpiPen, blue and orange tube, and it’s not there, you’re wasting precious seconds that could save a life,” Malawer said.(Updates with Amneal Pharmaceuticals comment in the 17th paragraph.)To contact the author of this story: Myah Ward in New York at mward174@bloomberg.netTo contact the editor responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Timothy AnnettFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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