Teva’s 1Q Meets Our Expectations but Continues to Reflect Major Challenges
While recent executive departures remain a concern for Teva’s operational performance over the near term, this quarter’s results mostly track our expectations despite ongoing issues in Venezuela, generic competition on Azilect and Nuvigil, and settlement payments that have dented cash flow. The timing of a new CEO announcement remains uncertain, but the company’s priority to reduce debt, including the potential sale of its women’s health and European oncology branded assets in the near term, sho...
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