Teva’s Operational and Debt Problems Result in Disappointing 2018 Outlook
Although Teva’s fourth-quarter results slightly exceeded our expectations thanks in part to the firm’s decision not to pay bonuses this year, management’s weak 2018 outlook and $14 billion in additional goodwill and other impairments taken this quarter foreshadows further deterioration in the business. Revenue of $18.3 billion to $18.8 billion in 2018 suggests considerable ongoing challenges in the generics segment beyond our already depressed expectations. Additionally, management expects anoth...
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