The company said the purchase of Allergan will add 338 in new product registrations for Teva pending FDA approval in the US, and has opened the door to potentially 5000 product launches across Europe. KeyCorp received regulatory approval from the Federal Reserve for the acquisition on July 12, 2016. They now have a Dollars 75 price target on the stock. Beta factor is used to measure the volatility of the stock. Its weekly and monthly volatility is 2.41%, 2.08% respectively.
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“The rest will be divided between paying down debt and entertaining attractive specialty deals”, Erez Vidogman, Teva’s chief executive, told a conference call of analysts following the publication of second-quarter results.
Dr. Reddy’s Laboratories Ltd. (BSE: 500124) (NSE: DRREDDY) (NYSE: RDY) today announced that it successfully completed the previously announced acquisition of eight Abbreviated New Drug Applications (ANDAs) in the US from Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) (TASE: TEVA) and an affiliate of Allergan plc (NYSE: AGN). Furthermore, as a result of our strengthened financial profile following this transaction, we will be even better positioned to reap the benefits of Teva’s R&D capabilities to support top-line growth and expand our portfolio across the business.
It means the pharmaceutical company will be expanding, constructing a new solid oral-dose commercial manufacturing facility in Greenville.
“Anda is a natural fit into our business in general and our extensive supply chain network in particular, ” said Siggi Olafsson, president & CEO of Teva Global Generic Medicines. “We are excited about our future and our ongoing pursuit to increase access to important medicines for patients around the world”.
Unlike the previous deal, however, Allergan claims it expects the Anda acquisition to clear US regulators by the end of the year. Total 1.15 million shares changed on hands and it kept the average volume of 4.32 million shares.
Teva’s revenue continued to be negatively impacted by currency headwinds in the second quarter. The undervalued stock has a PEG ratio of 0 or 1 while the fairly valued stock has the ratio of 1 and 2. Company gross margin stands at 71.80% whereas its return on investment (ROI) is -1.30%. That was unchanged from $1.2 billion a year earlier, although earning a year ago were $1.43 per share due to a higher share count in the current quarter.
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Net income for the second quarter of 2016 based on U.S. GAAP (Generally Accepted Accounting Principles), was $598 million or $0.75 per diluted share compared to $356 million or $0.43 per diluted share in the second quarter of 2015.
