Teva Pharmaceutical Industries Ltd. rose to a one-year high after the maker of generic medicines said it plans to return to a deal-making strategy that made it one of the most acquisitive drug companies of the past decade.
Teva Pharmaceutical Industries Ltd. , the world’s biggest generic-drug maker, agreed to buy a 57 percent stake in Taiyo Pharmaceutical Industry Co. to benefit from Japan’s push to broaden the use of copycat medicines.
Teva Pharmaceutical Industries Ltd., swooping in to outbid Valeant Pharmaceuticals International Inc. for Cephalon Inc. , is counting on “high-risk, high-reward” stem-cell treatments and therapies for asthma and lung cancer to help it overcome growing competition to its biggest product.
Teva Pharmaceutical Industries Ltd. said fourth-quarter profit rose 23 percent as last year’s acquisition of Cephalon Inc. shifted the company further away from its original identity as a generic-drug maker.
Teva Pharmaceutical Industries Ltd. fell the most in more than six months in New York trading after the Israeli drugmaker’s fourth-quarter earnings and forecast for this year missed analysts’ estimates.
Teva Pharmaceutical Industries Ltd. may be prepared to speed up the pace of acquisitions next year as Chief Executive Officer Jeremy Levin cuts costs and sets up a new management team, board member Chaim Hurvitz said.