Teva Pharmaceuticals or Teva Pharmaceutical Industries Ltd. is a multinational pharmaceutical company in Israel that specializes in mostly generic drugs but has branched off to other business interests like active pharmaceutical ingredients and proprietary pharmaceuticals.
Teva Pharmaceuticals is one of the largest manufacturers of generic drugs in the world.
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This year’s first quarter performance of Teva Pharmaceuticals was better than they have expected due to the sale of its generic drugs. Teva’s generic drug sales were around $2.2 billion although decreasing 17 percent due to the loss of exclusivity of Esomeprazole and Crohn’s disease treatment budesonide.
At this time, Teva was also in the process of purchasing Allergan’s Actavis generic business to the tune of $40.5 billion. It was also at this time the pharmaceutical company’s shares saw a gain of about 5 percent at 1.36 per share.
The company’s reported earnings for the third quarter were at $5.56 billion its shares were at 1.31 per share.
Teva has been doing well at the end of the year and according to Teva Pharmaceuticals CEO Erez Vigodman, 2017 will be a better year for the company than 2016.
Teva Pharmaceuticals Market Forecast
The forecast for Teva Pharmaceuticals’ company is based on analysts from CNN Money. According to the analysts the company will have a median target of 50 with a high estimate of 100 and a low estimate of 40. The median estimate shows a 35.14 percent increase from the last price of 37.00. It is recommended to buy Teva stocks for the time being.