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Teva Pharmaceutical Industries Limited (TEVA) Bets on Reformulating Old Drugs as Investors Say "Show Me"


5/22/2013 8:07:32 AM

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Teva Pharmaceutical Industries Ltd. (TEVA), which just two years ago was analysts’ highest-rated stock among the world’s 20 biggest drugmakers, is struggling to convince investors that a key part of its strategy will revive growth. A new focus to reformulate or repurpose existing drugs to tackle unmet needs in areas such as HIV and pain will create a “multibillion-dollar business,” Chief Executive Officer Jeremy Levin said in an interview this month. Investors may be less optimistic. Teva shares had the worst performance this year among the 25 largest drugmakers as analysts seek more details on the strategy and fret over competition to best-selling Copaxone.

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