Teva’s stock jumped as investors get more hopeful about the future.
Shares of generic and specialty drug producer Teva Pharmaceutical (TEVA) jumped 7% Wednesday afternoon as investors get more hopeful about the future.
Jefferies analysts met with Teva executives in Israel including the head of research and development, and concluded in a fresh report today that new CEO Kare Schultz may discuss strategy with investors by the end of the year, to coincide with quarterly results. Jefferies analysts David Steinberg, Edward Chung and Anthony Baldor gleaned in meetings that cost cutting and asset sales are “on the table” for Teva, with $35 billion in debt, high leverage and weakening profitability over time.
