|Bid||0.00 x 3200|
|Ask||0.00 x 2900|
|Day's Range||10.11 - 10.52|
|52 Week Range||6.07 - 24.47|
|Beta (3Y Monthly)||1.74|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.89|
A Florida-based charity will pay $4 million to resolve claims that it acted as a conduit for companies including Biogen Inc and Novartis AG to pay kickbacks to Medicare patients using their high-priced multiple sclerosis drugs, the U.S. Justice Department said on Wednesday. The settlement with the patient assistance charity The Assistance Fund marked the third so far with a foundation linked to an industry-wide probe that has resulted in $850 million in settlements with drugmakers and charities. TAF like the other foundations provide assistance to patients seeking to pay out-of-pocket costs for medications and says that since 2009 it has provided assistance to 78,000 people.
(Bloomberg) -- Demand for corporate bonds is deepening in emerging markets as political strife from Hong Kong to Lebanon and Latin America drives investors away from government debt.The Bloomberg Barclays index for corporate securities in the developing world is rising for a 12th successive month, while the gauge for sovereign notes is heading for its third decline in four months. That’s sent the ratio between them to the highest level since July 2015 in favor of corporate bonds.Investors are betting corporate debt is less vulnerable than government bonds to the spreading unrest. Fiscal concerns have returned as governments loosen budget discipline to dodge a global growth slowdown. Meanwhile, year-end caution to lock in returns is reducing demand for sovereign debt, said Richard Segal, a senior analyst at Manulife Asset Management in London.“Investors have had a good year and they are now switching from sovereigns to corporates, especially away from countries where the political situation has had an impact,” Segal said. “I expect this will go on for a while, perhaps until the first quarter of next year.”This quarter is the first time since June 2015 that the EM corporate-bond index is heading for a gain while the sovereign gauge is falling. The star of this outperformance is Israel, where bond returns are five times those of the next best performer, Turkey.In turn, Israel’s gains are being led by Teva Pharmaceutical Industries Ltd., as investors turn confident the drugmaker is on course to resolve a major legal case and whittle down its massive debt load. Teva’s tentative deal with U.S. authorities to settle claims against the company for its role in the opioid epidemic is being seen as credit-positive, according to Bloomberg Intelligence.Teva’s dollar bonds due 2036 have handed investors 17% this quarter, while five of its other notes have given double-digit total returns as they rebounded from third-quarter losses.From the sovereign side, the worst performer also comes from the same region. Lebanon’s international bonds have posted a 27% loss this quarter as an economic crisis and a perceived lack of accountability among the ruling class brought people to the streets. That’s sent the government’s borrowing costs soaring. The yield on its March 2020 securities hovers around 98%, meaning there’s a 30% return to be made in the next 111 days.The other poor performers are Ecuador (a 17.4% loss) and Suriname (minus 9.5%).In the coming months, Brazil and Indonesia might lure bond investors because of high yields, Segal said. Read:Emerging Market Bond Spreads Narrow in Week, Led by IsraelTeva Boosts Debt Sale to Over $2 Billion to Meet Strong DemandLebanon Bond Sell-Off Eclipses Argentina as Unrest Flares UpEcuador Bonds Hit Record Low Amid Latin America’s Month of ChaosBonds Tank as Investors Finally Notice Suriname’s Fiscal Deficit(Adds Segal’s picks at the end)To contact the reporter on this story: Srinivasan Sivabalan in London at email@example.comTo contact the editors responsible for this story: Dana El Baltaji at firstname.lastname@example.org, Robert Brand, Alex NicholsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The number of pharmaceutical and biotechnology companies seeking Chapter 11 protection has nearly tripled the 10-year average in 2019 and is expected to continue to rise Continue reading...
Teva Pharmaceutical Industries Limited (NYSE and TASE: TEVA) (“Teva”) announced today that it successfully upsized and priced approximately $2.1 billion (equivalent) of its senior notes (the “Notes”). The principal amount of the offering was increased from the previously announced offering size of $1.5 billion (equivalent). Teva expects to use the net proceeds from the offerings, together with cash on hand, to (i) fund the announced tender offer to purchase, for cash, its 2.200% Senior Notes due 2021, its 3.650% Senior Notes due 2021 and its 3.650% Senior Notes due 2021 (the “Tendered Notes”) for a maximum combined aggregate purchase price (exclusive of accrued and unpaid interest but inclusive of tender premium) of up to $1.5 billion, (ii) to partially redeem €650,000,000 of the currently outstanding €1,660,154,000 aggregate principal amount of its 0.375% Senior Notes due 2020, (iii) to pay fees and expenses in connection therewith and (iv) to the extent of any remaining proceeds, for general corporate purposes, which may include the repayment of outstanding debt.
Immunology drug scheduled to supplant the widely used heart medication Lipitor, tallying cumulative sales of $240 billion Continue reading...
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 email@example.comTo contact the editors responsible for this story: Vivianne Rodrigues at firstname.lastname@example.org, 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.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Teva Pharmaceutical (TEVA) misses earnings estimate but beats the same for sales. The company increases the lower end of its 2019 sales and earnings guidance. Shares rise.
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.