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Teva Pharmaceutical Industries Limited (TEVA) Premium Swells on $250 Million Settlement: Israel Overnight


2/23/2012 7:11:13 AM

Teva Pharmaceutical Industries Ltd. (TEVA) climbed in New York, pushing the premium over Israeli stock to a six-week high, on speculation the drugmaker is settling lawsuits alleging a treatment led patients to develop hepatitis C. U.S.-traded shares of the world’s largest maker of generic drugs jumped 1.3 percent to a two-week high of $45.24 in New York yesterday, widening the advantage over stock traded in Tel Aviv to 80 cents, the most since Jan. 9. It was the biggest premium among dually traded shares on the Bloomberg Israel-US 25 Index (ISRA25BN), which gained 0.9 percent to 92.79. The shares in Tel Aviv climbed 0.8 percent to 167.3 shekels, or $44.49 today.



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