Teva Reports Weak Third Quarter in Generics Business, but Positives Remain on Horizon
Teva reported weaker-than-expected third-quarter results as few new generic product launches combined with pricing pressure on some of the company’s more limited competition products--such as Xeloda, Pulmicort, and Nexium--led to greater-than-expected erosion in the company’s U.S. generics business. While we plan to reduce our fair value estimate as we primarily adjust some of our assumptions in the generics segment, we think Teva still looks undervalued where the stock currently trades. We cont...
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