Teva Pharmaceutical Industries Ltd., which just two years ago was analysts’ highest-rated stock among the world’s 20 biggest drugmakers, is struggling to convince investors that a key part of its strategy will revive growth.
Phillip Frost is among the top insider buyers in the U.S. as the pharmaceutical billionaire props up the shares of two of his companies following an acquisition agreement that has been contested by some investors.
Opko Health Inc. agreed to buy Israeli drugmaker Prolor Biotech Inc. for about $480 million to combine two companies that count U.S. pharmaceutical billionaire Phillip Frost as their largest shareholder.
ClickSoftware Technologies Ltd., the Israeli maker of workplace software, is rebounding from a five-month low after reiterating sales will rise as much as 25 percent as businesses boost spending on phone applications.
Prolor Biotech Inc., an Israeli company developing improved versions of existing medicines, hired Jefferies Group Inc. to study strategic alternatives, according to a person with knowledge of the decision.
After helping Bristol-Myers Squibb Co. find new drugs to help offset the expected loss of revenue from its top-selling blood thinner Plavix, Teva Pharmaceutical Industries Ltd.’s chief executive officer-designate Jeremy Levin faces the same task at the Israeli drugmaker.