Teva Must Clear Three Big Hurdles To Reclaim Its Perch
Teva Pharmaceutical Industries Ltd.'s (TEVA) ignominious slide from its perch as Israel's largest market cap company won't be reversed until the pharma company clears three big hurdles: installing a new CEO and management team, spinning off key units to reduce its debt and achieving clarity on how much competition it will face from generic versions of its branded multiple sclerosis drug Copaxone.
Bloomberg reported Tuesday that Teva lost its position as Israel's biggest firm due to depressed prospects for generics makers generally and disappointment over the company's second quarter earnings announcement on August 3.
Bloomberg reported Tuesday that Teva lost its position as Israel's biggest firm due to depressed prospects for generics makers generally and disappointment over the company's second quarter earnings announcement on August 3.