Teva Recognizes Charges in 4Q and Faces an Uncertain Year Ahead
Teva’s fourth-quarter results were slightly ahead of our expectations when accounting for several recognized charges, which included a $900 million goodwill impairment of the Rimsa acquisition, a $500 million impairment of Venezuela-related assets, and a $225 million Cipro settlement. Although we think Teva looks undervalued, the company continues to face significant challenges as it transitions to a new CEO and from the potential upcoming competition on Copaxone. Management maintained its 2017 ...
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