|Bid||10.81 x 800|
|Ask||10.90 x 2900|
|Day's Range||10.82 - 11.19|
|52 Week Range||10.82 - 25.96|
|Beta (3Y Monthly)||2.03|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||18.67|
The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines Greystar targets UK rental sector with launch of fund https://on.ft.com/2W6utT4 ...
One of the drugmakers named in Oklahoma’s lawsuit over the opioid crisis has agreed to a settlement in which it will pay the state $85 million.
BOSTON/JERUSALEM (Reuters) - Teva Pharmaceutical Industries Ltd said on Sunday it had agreed to pay an $85 million settlement with the state of Oklahoma days before the company was set to face trial over allegations that it and other drugmakers helped fuel the U.S. opioid epidemic. Teva, the world's largest generic drugmaker, said the settlement "does not establish any wrongdoing on the part of the company" and denied contributing to opioid abuse in Oklahoma. Claims against Teva focused on the branded opioid products Actiq and Fentora as well as generic painkillers it produced.
said it's reached an agreement with the state of Oklahoma that includes an $85 million payment to the state -- just days before a trial slated for Tuesday over opioid claims. Teva is one of two defendants that settled prior to Tuesday's trial, following Purdue Pharma's agreement and $270 million payment in March. "The company has resolved this matter in a way that benefits the people who have suffered from abuse of opioids and to help stop the effects of the opioid crisis.
NORMAN, Okla. (AP) — One of the drugmakers named in Oklahoma's lawsuit over the opioid crisis has agreed to a settlement in which it will pay the state $85 million.
Teva Pharmaceuticals USA and related affiliates of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), and the state of Oklahoma, have entered into an agreement for a one-time payment of $85 million to the state. The settlement resolves the state’s claims against Teva. Teva has not contributed to the abuse of opioids in Oklahoma in any way.
Teva Pharmaceuticals will pay $85m to Oklahoma to settle claims that it played a part in fuelling the state’s opioid crisis. Teva and the state government finalised the deal ahead of a trial, which was scheduled to begin on Tuesday. The proceedings will continue against defendant Johnson & Johnson, the world’s largest drugmaker, which has not settled with the state.
Teva Pharmaceutical and Mylan could be on the hook for billions in damages after a lawsuit accused pharmaceutical companies of colluding to fix generic drug prices, an analyst said Friday.
Oklahoma is the first to go to trial with a case relying on nuisance laws normally invoked for minor property disputes involving things such as loud noises or bright lights. “It’s the first time this theory has actually gotten to trial in pharmaceutical litigation, so everybody will be watching to see if it works,” said Richard C. Ausness, a University of Kentucky law professor who monitors opioid litigation. Oklahoma Attorney General Mike Hunter claims J&J and Teva are liable for at least $10 billion in damages from the state’s two-decade surge in opioid addiction.
The investors are taking advantage of sliding prices for notes issued by companies such as Endo International Plc, Mallinckrodt Plc and Teva Pharmaceutical Industries Ltd., which face allegations that they’ve fueled the opioid epidemic, and that they’ve engaged in price-fixing of generic drugs. Mallinckrodt is also in a legal battle with the U.S. over a plan to slash reimbursements on Acthar, the company’s star drug.
NEW YORK, NY / ACCESSWIRE / May 20, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Teva Pharmaceuticals Industries Limited ("Teva" ...
After upgrading Pfizer (NYSE:PFE) to "Outperform" in January and raising its price target on Pfizer stock to $48 in May, one would think there's nothing else Credit Suisse could so to bolster its bullish case, but there is.Source: Kojach Via FlickrFollowing a meeting with the pharmaceutical giant's top brass just a few days ago, on Thursday, Credit Suisse labeled PFE stock a "top pick." It was apparently one heck of a meeting.The specifics prompting the accolade weren't made crystal clear, though Credit Suisse did note that the company's prospects for new products was compelling. Translation: Whatever stoked Credit Suisse's fires is likely to be in the company's late-stage pipeline, which is admittedly more exciting than it has been in a long while.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 High-Yield REITs to Buy (Even When the Market Tanks) A Brief Look at PfizerIt's not a story that needs a great deal of retelling. It was an unstoppable powerhouse when it had full patent protection of its erectile dysfunction drug Viagra and faced little competition. But, seeing the writing on the wall, the drugmaker allowed Teva Pharmaceutical Industries (NYSE:TEVA) to begin selling a generic version of the drug in 2017. In the meantime, consumer interest in ED drugs has broadly waned.Pfizer is about to lose ground with blockbuster neuropathic pain drug Lyrica too, which lost patent protection last year, threatening to quickly cut its $5 billion in annual sales in half once generic alternatives become available.It's the same story that plays out over and over within the pharmaceutical industry; these organizations must constantly replenish their portfolios with patent-protected drugs, or risk losing ground.It's something Pfizer hasn't done especially well in recent years.Although Pfizer stock has made reliable if choppy progress since turning around with all other stocks in 2009, revenue growth hasn't been overwhelming. The $53.9 billion in sales generated over the course of the past four reported quarters was not remarkable better than the $52.7 billion figure from a year earlier."Pfizer has been working through a dark period with extensive patent expirations," Credit Suisse analyst Vamil Divan said in late January. "That period is now nearing an end." Solid PipelineWhat Pfizer told Credit Suisse at the meeting remains veiled, though when Divan upgraded Pfizer stock early this year he explicitly noted opportunities for several cancer and autoimmune disease drugs along with vaccinations.Two of the drugs Divan had in mind are Vyndaqel and Vyndamax (though they're actually different doses of the same molecule), which combats the buildup for amyloid in the heart.Alnylam Pharmaceuticals (NASDAQ:ALNY) and Ionis Pharmaceuticals (NASDAQ:IONS) already make similar rival drugs, but their versions are considerably more expensive. Divan foresees peak sales of $2 billion for Vyndaqel, but is willing to entertain a number "significantly larger than that if Pfizer is able to commercialize it successfully."Pfizer has also partnered with Eli Lilly (NYSE:LLY) on the development of a non-opioid arthritis treatment called tanezumab, another one of the 15 game-changing drugs Pfizer believes could be brought to the market within the next five years.Some analysts are looking for modest peak sales of around $500 million, although Cantor Fitzgerald analyst Louise Chen thinks tanezumab could prove to a multi-billion dollar opportunity to replace a significant piece of the existing opioid market.In the meantime, Pfizer aims to widen the uses of already-marketable drugs like Ibrance, Eliquis, and Xeljanz.Ibrance has already become something of a wonder drug. Already approved as a therapy for multiple forms of breast cancer and generating revenue of $4.1 billion last year, expanded labeling could translate into peak annualized revenue of $8 billion before the treatment hits its ceiling.Eliquis (or Apixaban) for blood clots, co-marketed with Bristol-Myers Squibb (NYSE:BMY), and arthritis/ulcerative colitis therapy Xeljanz generated nearly $3.5 billion and more than $1.7 billion worth of revenue for Pfizer last year, respectively, yet both are also in trials for new uses after having proven they're safe and effective.All told, Pfizer's got 23 phase 3 trials underway right now. All of them look promising; most of them appear to have blockbuster potential. Looking Ahead for Pfizer StockIt was self-serving to be sure when CEO Albert Bourla proclaimed in January that Pfizer is sitting on its "greatest pipeline ever."But that doesn't mean he's wrong.Granted, the deterioration of Pfizer stock since December's peak (PFE stock been performing completely contrary to the market for months) says investors don't exactly believe Bourla. The crowd has understandably become a "show me first" mob, willing to wait on the sidelines for proof that the pipeline can do all the company suggests it can do.Credit Suisse's Divan may have the right idea though. The time to step into a great prospect is when its stock is down because the majority of investors aren't convinced and analysts are collectively lukewarm because they're unable to see more than a few months down the road.That's certainly Pfizer stock right now.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Yield REITs to Buy (Even When the Market Tanks) * 5 Great Blue-Chip Stocks to Buy Today * 7 Tech Stocks to Buy That Are Also Perfect for Retirement Compare Brokers The post Credit Suisse Absolutely Is Right to Double Down on Pfizer Stock appeared first on InvestorPlace.
Stocks in Warren Buffett's Berkshire Hathaway portfolio fell Friday. Among Buffett's holdings identified in Berkshire Hathaway's latest Securities and Exchange Commission filing, 11 rose while 35 fell.
Roche (RHHBY) gains an FDA nod for the sNDA of its leukemia drug, Venclexta, in combination with Gazyva for the treatment of previously untreated chronic lymphocytic leukemia.
Teva or Endo: Which Is the Better Pick in May?(Continued from Prior Part)Copaxone’s revenue erosionOn its first-quarter earnings conference call, Teva Pharmaceutical (TEVA) reaffirmed its 2019 global sales guidance of $1.30 billion for its
Teva or Endo: Which Is the Better Pick in May?(Continued from Prior Part)Ajovy’s market expansion strategyOn April 2, Teva Pharmaceutical (TEVA) issued a press release announcing the European Union’s approval of its monthly and quarterly dosages
Teva or Endo: Which Is the Better Pick in May?(Continued from Prior Part)Teva’s performanceIn the first quarter, Teva Pharmaceutical (TEVA) reported revenue of $4.29 billion, a YoY (year-over-year) fall of 15.20% and $89.76 million lower than the
The prices of generic drugs across the universe of pharmaceutical companies appeared to stabilize in the first quarter — shucking off years of broad decline, Wall Street analysts say.
Teva or Endo: Which Is the Better Pick in May?(Continued from Prior Part)EPS and EBITDA guidanceIn its first-quarter earnings investor presentation, Teva Pharmaceutical (TEVA) reiterated its non-GAAP (generally accepted accounting principles) EPS