TEVA - Teva Pharmaceutical Industries Limited

NYSE - Nasdaq Real-time price. Currency in USD
10.33
-0.09 (-0.86%)
As of 1:13PM EST. Market open.
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Previous close10.42
Open10.48
Bid10.32 x 2900
Ask10.33 x 1800
Day's range10.26 - 10.49
52-week range6.07 - 24.47
Volume8,005,750
Avg. volume21,535,276
Market cap11.113B
Beta (3Y monthly)1.74
PE ratio (TTM)N/A
EPS (TTM)-3.77
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend date2017-11-27
1y target est8.89
  • Corporate Bonds Are All the Rage in Emerging Markets
    Bloomberg

    Corporate Bonds Are All the Rage in Emerging Markets

    (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 ssivabalan@bloomberg.netTo contact the editors responsible for this story: Dana El Baltaji at delbaltaji@bloomberg.net, Robert Brand, Alex NicholsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Jazz's (JAZZ) Sleep Drug Sunosi Nears Approval in Europe
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    Jazz's (JAZZ) Sleep Drug Sunosi Nears Approval in Europe

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  • Teva’s Links to Opioid Epidemic May Triple Funding Costs
    Bloomberg

    Teva’s Links to Opioid Epidemic May Triple Funding Costs

    (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 lbenitez1@bloomberg.netTo contact the editors responsible for this story: Vivianne Rodrigues at vrodrigues3@bloomberg.net, Chris VellacottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Is Teva Pharmaceutical Industries Ltd. (TEVA) a Great Value Stock Right Now?
    Zacks

    Is Teva Pharmaceutical Industries Ltd. (TEVA) a Great Value Stock Right Now?

    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 (TEVA) Q3 Earnings Miss, Stock Up on Guidance Increase
    Zacks

    Teva (TEVA) Q3 Earnings Miss, Stock Up on Guidance Increase

    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.

  • 5 Low Price-to-Book Stocks to Buy in November
    Zacks

    5 Low Price-to-Book Stocks to Buy in November

    P/B ratio is emerging as a convenient tool for identifying low-priced stocks that have high growth prospects.

  • Teva (TEVA) Q3 Earnings Miss, Sales Top Estimates, Stock Up
    Zacks

    Teva (TEVA) Q3 Earnings Miss, Sales Top Estimates, Stock Up

    Teva Pharmaceutical (TEVA) misses earnings estimate but beats the same for sales. Shares rise in pre-market trading.

  • Mylan's (MYL) Q3 Earnings Beat Estimates, Revenues Miss
    Zacks

    Mylan's (MYL) Q3 Earnings Beat Estimates, Revenues Miss

    Mylan's (MYL) earnings beat estimates but sales miss the same in the third quarter of 2019. The company updates guidance for 2019.

  • What's in the Cards for Teva (TEVA) This Earnings Season?
    Zacks

    What's in the Cards for Teva (TEVA) This Earnings Season?

    Pricing erosion in U.S. generics market and rapid erosion in sales of Copaxone are likely to have hurt Teva's (TEVA) Q3 sales

  • Teva Pharmaceutical Industries Ltd. (TEVA) Dips More Than Broader Markets: What You Should Know
    Zacks

    Teva Pharmaceutical Industries Ltd. (TEVA) Dips More Than Broader Markets: What You Should Know

    Teva Pharmaceutical Industries Ltd. (TEVA) closed at $8.15 in the latest trading session, marking a -0.49% move from the prior day.

  • Teva Pharmaceutical Industries Ltd. (TEVA) Stock Sinks As Market Gains: What You Should Know
    Zacks

    Teva Pharmaceutical Industries Ltd. (TEVA) Stock Sinks As Market Gains: What You Should Know

    Teva Pharmaceutical Industries Ltd. (TEVA) closed the most recent trading day at $8.03, moving -1.65% from the previous trading session.

  • Lannett (LCI) to Report Q1 Earnings: What's in the Cards?
    Zacks

    Lannett (LCI) to Report Q1 Earnings: What's in the Cards?

    Lannet's (LCI) fiscal first-quarter 2020 results are likely to reflect strong performance of its anti-psychosis and cardiovascular drugs.

  • Should Value Investors Buy Teva Pharmaceutical Industries Ltd. (TEVA) Stock?
    Zacks

    Should Value Investors Buy Teva Pharmaceutical Industries Ltd. (TEVA) Stock?

    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.

  • Lilly (LLY) Q3 Earnings Top Estimates, Sales Lag, Stock Down
    Zacks

    Lilly (LLY) Q3 Earnings Top Estimates, Sales Lag, Stock Down

    Eli Lilly's (LLY) Q3 earnings beat estimates while sales miss. Shares drop in pre-market trading.

  • Bloomberg

    Get Real. There Will Be a Global Opioid Settlement.

    (Bloomberg Opinion) -- They kicked the can down the road.That’s the best way to describe what happened at the bellwether opioid trial that was set to begin Monday morning in Cleveland. Last week, the two sides — companies being sued for their alleged role in the opioid crisis and lawyers suing them on behalf of states, cities and counties nationwide — tried to fashion a global settlement. As it’s been outlined in the media, that settlement could have seen the defendant companies offer more than $50 billion to the plaintiffs to stop the litigation.That effort ended in failure Friday night. So over the weekend, the parties engaged in a smaller but more manageable task: settling with the two Ohio counties who were the plaintiffs in the upcoming trial. They succeeded at around 1 a.m. on Monday. For the companies — Cardinal Health Inc., McKesson Corp., AmerisourceBergen Corp. and Teva Pharmaceutical Industries Ltd. — the money being handed over to the plaintiffs is pocket change: some $260 million spread over 18 months. But for the two counties, Summit and Cuyahoga, it’s badly needed money that will help them treat and mitigate opioid addiction.Still, with more than 2,000 opioid cases yet to be tried, this settlement only offers a temporary reprieve. A significant portion of those cases are in the courtroom of Judge Dan Aaron Polster of the Northern District of Ohio. Soon enough, he will schedule another bellwether trial, and they’ll start it up all over again.Unless, that is, they manage to put a global settlement in place. There is not much doubt at this point that that’s going to happen. The two sides just couldn’t get there by Monday morning. Which is why they punted.What stands in the way of a global settlement? The states had already accepted the deal offered by the companies. But when they took it to the lawyers for the cities and counties, they got shot down. These smaller entities are deeply suspicious of letting the states take the lead. They don’t want to allow the same thing to happen with opioids that happened with tobacco in the late 1990s: The states took all the settlement money, and most of them put it in their general coffers instead of using it for tobacco control efforts.Outside the courthouse after Polster had announced the settlement, I asked the well-known plaintiffs’ lawyer Joe Rice, who is leading the charge for the cities and counties, for his reaction to the claim that his clients were blocking a global settlement. He was unapologetic.  “We did not agree to those terms,” he replied. “If we are the hold-up of that settlement we did a really good thing.” He added that his clients are still talking to the states and the defendants. But, he added, “It’s gotta be fair and it’s gotta be now.”Immediacy – Rice’s “now” – is the second stumbling block. The three distributors, Cardinal, McKesson and AmerisourceBergen, initially offered to pay $18 billion over 18 years as their contribution to a global settlement. But outside the courthouse, several county executives stressed that the opioid crisis was a true national emergency and they couldn’t wait 18 years to get all the money due them.Another reporter asked Rice if the settlement with Summit and Cuyahoga counties was likely to serve as a template for future settlements. That seems pretty unlikely. If every government entity suing over opioids got the kind of money the two Ohio counties are getting, it would come to over $300 billion. Because they were first in line, Summit and Cuyahoga counties got very lucky.There are other reasons both sides need to find a way to settle this litigation. In late August, a judge ordered Johnson & Johnson to pay $572 million to Oklahoma for its alleged role in that state’s opioid crisis. (The amount was later reduced by $107 million because the judge made a math error.) J&J is appealing, arguing in part that the state’s novel use of “public nuisance” law to bring the case was a “misapplication” of the law. If the verdict is overturned, it will embolden the defendant companies because many of the opioid lawsuits are built on local public nuisance laws. If the verdict us upheld, however, the $50 billion currently on the table may look like peanuts to the plaintiffs.There is no question that the cities and counties that have sued desperately need money to help end the crisis. There is also no question that the only way they’re going to get that funding is from the big companies they’re suing. The only other potential source, the federal government, hasn’t put up anywhere near the kind of money these damaged and desperate communities require.The companies may not like all of this. They may not think it is fair. They may wish they could hold out and fight in court. But society is demanding that they pay up for their roles in the opioid scourge. And sooner or later, they will.To contact the author of this story: Joe Nocera at jnocera3@bloomberg.netTo contact the editor responsible for this story: Timothy L. O'Brien at tobrien46@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

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  • Q3 Earnings Reports to Flood Wall Street This Week
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  • Opioid Settlement, Boeing Downgrades: Markets Looking Up
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    Opioid Settlement, Boeing Downgrades: Markets Looking Up

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  • Investing.com

    Stocks - Boeing, Beyond Meat Fall Premarket; Drug Companies in Focus

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  • Bloomberg

    Settling Opioid Suits Probably Won’t End the Crisis

    (Bloomberg Opinion) -- Imagine you’re the chief executive officer of a large pharmaceutical corporation with an important drug that’s under attack. More than 2,500 lawsuits have been filed against your company. The plaintiffs aren’t individuals, though, they’re governments — counties, cities and states. And some of the biggest names in the plaintiffs’ bar have agreed to represent these entities, lawyers like Joe Rice, whose firm was said to have earned $1 billion for helping to bring the tobacco companies to heel in the 1990s.You know you’ve got some incriminating-sounding documents in your corporate files — what company doesn’t? — but you also know that the Food and Drug Administration approved your drug. Patients crushed it and snorted it — something that was never intended. And you’re convinced that the plaintiffs are pushing the envelope with the public nuisance laws they are relying on to bring these cases. Yes, your company will probably lose at trial, but you think you have a good chance to win on appeal.Then you look at the army arrayed against you, and it hits you: You’re never going to be able to litigate your way out of this. It’s not just that there are 2,500 lawsuits or that they are being brought by governments. It is what that represents. Government exists to serve the interests of the people, and the people are saying that your company participated in something that inflicted tremendous damage on the country. Hundreds of thousands of people have died. And your company needs to be punished.At this point, you pick up the phone, call your opponents and say, “How much do we need to pay to settle this?”I am obviously not privy to the thinking of the CEOs of the various companies facing opioid lawsuits. But given the news of the last few days, I imagine that their thought process was not too far from what I just described. On Tuesday, the Wall Street Journal reported that three of the distributors being sued — McKesson Corp., Cardinal Health Inc., and AmerisourceBergen Corp. — have offered to pay $18 billion over 18 years to settle their cases. This news leaked less than a week before the start of a big opioid trial in Cleveland, in which the three companies are among the defendants.The next day, Bloomberg News reported that Johnson & Johnson was offering $4 billion to end the litigation, and Teva Pharmaceutical Industries Inc. was proposing to give away $15 billion worth of generic drugs to be freed of the lawsuits. On Thursday, the New York Times reported that the five companies and the states had agreed on the outlines of a settlement that would cost the companies $50 billion.And of course, Purdue Pharma Inc. had already waved the white flag, with a bankruptcy filing last month intended to end the lawsuits by essentially turning the company’s assets over to a trust that would be controlled by the plaintiffs.It is too early to know whether any of these settlement offers will stick. Although the federal judge presiding over the Cleveland trial, Dan Aaron Polster, has asked the CEOs of the three distributors plus Teva to appear Friday to discuss the settlement talks, I’m told that the trial is still likely to begin on Monday, as scheduled.Any settlement will also need approval from the cities and counties that have filed suits. They are deeply suspicious of any deal the states might cut because they remember the outcome of the tobacco litigation. In 1998, the tobacco companies agreed to pay $246 billion over 25 years to the states, but little of that money trickled down to cities and counties. Indeed, a minuscule amount went to anti-tobacco efforts; most of the money is now used to fill state budget gaps.Still, whether it happens next week or next year, the opioid litigation will almost surely end with the companies being sued spending billions to settle it. The stock market practically demands it: Share prices of all the companies that have made settlement offers in recent days have jumped. And continuing litigation drains and distracts a company.Here’s the problem, though. Whenever plaintiffs’ lawyers argue that companies have done bad things and need to pay up, they justify the demand for money by saying it will be used to solve the problem. But will it? In this case, I have my doubts.In an opioid case in Oklahoma a few months ago, a judge ruled that Johnson & Johnson should pay $572 million (later reduced by $107 million), which he calculated would cover opioid abatement services in Oklahoma for just one year. So point one: Ending the crisis will require more money than even Big Pharma can provide.Second, just throwing money at the problem is not going to solve it. States and cities will most likely take different approaches. Some will be better than others. But there is no clear plan coming from the federal government — or anywhere else — about what steps are needed to end the crisis. Until there is, more money is likely to be wasted than not.Third, chances are good that the settlement money will be used for things that have nothing to do with opioids. Again, tobacco in instructive: Settlement money was supposed to be earmarked for tobacco control programs, but in most states the politicians couldn’t resist grabbing it for other purposes.Earlier this summer, during a court hearing, Judge Polster said that “developing solutions to combat a social crisis such as the opioid epidemic should not be the task of our judicial branch.” It was the job, he said, of the executive and legislative branches.He’s right. But that’s just not the American way. In the U.S., when there is a problem with a product, our first instinct is to sue the corporation that made it. When the litigation is settled, money is transferred from shareholders to plaintiffs (and their lawyers). It may be a satisfying resolution, but it rarely solves the problem. To reference tobacco one more time, two decades after the tobacco settlement, 480,000 Americans still die from smoking each year.I suspect the same will be true of the opioid crisis. The companies will settle, the lawyers will pocket millions and the states will get the rest. And the crisis will continue.I’ve said it before, and I’ll no doubt say it again: There’s got to be a better way.To contact the author of this story: Joe Nocera at jnocera3@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • McKesson CEO Among Four Summoned to Court For Opioid Talks
    Bloomberg

    McKesson CEO Among Four Summoned to Court For Opioid Talks

    (Bloomberg) -- The CEOs of McKesson Corp., Cardinal Health Inc. and two other companies seeking to settle legal claims over their handling of opioid painkillers were summoned to meet with a judge in hopes of hammering out a final deal, according to two people familiar with the matter.U.S. District Judge Dan Polster in Cleveland, who is overseeing the first federal trial over the U.S. opioid epidemic, demanded that the chief executive officers appear in his court on Friday to discuss their settlement proposals, according to the people, who asked not to be identified because the negotiations are confidential.In a sign that talks may be entering their end-game, Polster made his demand on Wednesday as jury selection got underway in the trial, the people said. Opening statements are scheduled for Oct. 21 in the first case to test local governments’ claims that opioid makers and distributors fanned demand for the highly addictive pain medications.The four companies -- McKesson, Cardinal Health, AmerisourceBergen Corp. and Teva Pharmaceutical Industries Ltd. -– are seeking to resolve all opioid suits filed against them by U.S. states, cities and counties. If their settlement proposals are accepted, they’d be removed from the current trial and any further opioid litigation.The chief executive officer of a fifth defendant at the trial, Walgreens Boots Alliance Inc., wasn’t summoned to court because the pharmacy chain has shown no interest in settling, the people said. But another executive will attend, a third person familiar with the meeting said.2,000 LawsuitsIn all, more than 2,000 municipalities have sued pharma companies to recoup billions of dollars spent battling the fallout from opioid addiction and overdoses. Next week’s trial is on behalf of just two Ohio counties.Kelley Dougherty, a spokeswoman for Teva, declined to comment on whether CEO Kare Schultz would be in Cleveland for the meeting. Gabe Weissman, an AmerisourceBergen spokesman, also declined to say whether CEO Steven Collis would be making the trip.Spokeswomen for McKesson and Cardinal Health didn’t immediately return calls and emails late Wednesday about whether McKesson CEO Brian Tyler and Cardinal Health CEO Michael Kaufmann would be present. Jim Cohn, a Walgreens spokesman, said the company doesn’t comment on pending litigation. Friday’s meeting, which will include state attorneys general who have sued separately and are backing the deals, may solidify a framework for resolving all the cases in a settlement that could wind up being worth more than $50 billion, the people said.Read More: J&J Makes $4 Billion Opioid Offer as Distributors Seek DealMcKesson, Cardinal Health and AmerisourceBergen are offering to pay a combined $18 billion over 18 years to wipe out opioid suits filed against the distributors, the people said. Teva is offering more than $15 billion in generic drugs, including those that help fight opioid overdoses, the people said.Drugmaker Johnson & Johnson has offered to resolve all the cases against it for $4 billion. CEO Alex Gorsky won’t be present for the Cleveland meeting because the company paid $20.4 million to settle the claims against it by the two counties heading to trial next week, the people said.Another opioid maker, Purdue Pharma LP, sought bankruptcy protection in September to facilitate a $10 billion settlement proposal. That deal guarantees $3 billion from the company’s owners, the Sackler family, and relies largely on future revenues generated by sales of drugs.(Updates with meeting participant)To contact the reporters on this story: Jef Feeley in Wilmington, Delaware at jfeeley@bloomberg.net;Riley Griffin in New York at rgriffin42@bloomberg.netTo contact the editor responsible for this story: David Glovin at dglovin@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.