Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, May 25, 2018

Article Excerpt

TEVA PHARMACEUTICAL INDUSTRIES LTD. (ADR), $22.18, symbol TEVA on New York, is a global drug company that develops, manufactures and markets generic drugs and active pharmaceutical ingredients. It also produces its own proprietary, or exclusive, drugs. They include Copaxone (used to treat multiple sclerosis) and Azilect (for Parkinson’s disease). North America and Europe account for 78% of sales for this Israel-based company. Through Berkshire Hathaway, $194.50, symbol BRK.B on New York, highly regarded investor Warren Buffett nearly doubled his company’s stake in Teva in the first quarter of this year to $700 million in shares. That has sparked some investor interest in the stock despite a very bad 2017. Last year, the company lost exclusive rights to its very profitable multiple sclerosis drug, Copaxone. The loss was earlier than planned and led to a $17.1 billion writedown of the projected value of the drug. In addition, three of Teva’s directors resigned at the April 26, 2018, annual shareholder meeting. The company’s shares also…

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