Teva Withdraws Proposal to Acquire Mylan

Canaccord Genuity Raises Price Target on Teva Pharma (TEVA) Following Announced Acquisition of Allergan Generics

July 28, 2015 9:23 AM EDT

Canaccord Genuity maintained a Hold rating on Teva Pharma (NYSE: TEVA), and raised the price target to $79.00 (from $63.00), following the announced acquisition of Allergan Generics for $40.5B - $33.75B in cash and $6.75B in stock. Analyst Corey Davis said that this is not a good signal about the overall future of the... More

Leerink Partners Raises Price Target to $84 on Teva Pharma (TEVA) Following Call with CFO

July 28, 2015 8:12 AM EDT

Leerink Partners reiterated an Outperform rating on Teva Pharma (NYSE: TEVA), and raised the price target to $84.00 (from $74.00), following a call with CFO Eyal Desheh. The TEVA-AGN deal is estimated to close in 1Q'16 and management still anticipates holding its annual guidance... More

BMO Capital Starts Teva Pharma (TEVA) at Outperform

July 28, 2015 7:07 AM EDT

BMO Capital initiates coverage on Teva Pharma (NYSE: TEVA) with a Outperform rating and a price target of $80.00.

For an analyst ratings summary and ratings history on Teva Pharma click here. For more ratings news on Teva Pharma click here.

Shares of Teva Pharma closed at $72.00 yesterday.

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Teva's (TEVA) Deal for Allergan Generics Seen as Positive at Deutsche Bank, PT Raised to $82

July 27, 2015 2:29 PM EDT

Deutsche Bank maintained a Buy rating on Teva Pharma (NYSE: TEVA) and raised its price target to $82.00 (from $73.00). Analyst Gregg Gilbert said he likes its acquisition of Allergan Generics and noted "significant operational synergies."

"The addition of Allergans strong generics business and best-in-class pipeline, coupled with the potential for significant operational synergies, makes AG an ideal... More

Cowen Downgrades Mylan (MYL) to Market Perform

July 27, 2015 7:50 AM EDT

Cowen downgraded Mylan (NASDAQ: MYL) from Outperform to Market Perform.

For an analyst ratings summary and ratings history on Mylan click here. For more ratings news on Mylan click here.

Shares of Mylan closed at $65.94 yesterday.

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Mylan (MYL) Comments on Teva/Allergan Deal; Strategic Focus Remains Unchanged

July 27, 2015 6:43 AM EDT

Mylan (Nasdaq: MYL) issued the following statement regarding Teva's (NYSE: TEVA) announcement of its entry into an agreement to acquire Allergan's (NYSE: AGN) Generic Drug Unit and its withdrawal of its unsolicited expression of interest to acquire Mylan.

Mylan... More

Teva Pharma (TEVA) Prelim. Q2 Revenue, EPS Outpace Views

July 27, 2015 6:14 AM EDT

Teva Pharma (NYSE: TEVA) announced preliminary financial results for the second quarter of 2015:

Revenues of approximately $4.97 billion, down 2% compared to the second quarter of 2014. Excluding the impact of foreign exchange fluctuations and the sale of U.S. OTC plants in July 2014, revenues increased 6% compared to the second quarter of 2014.Non-GAAP diluted earnings per share (EPS) of $1.43 in the second quarter of 2015, up 15% compared to the second quarter of 2014.Non-GAAP operating income of $1.6 billion, an increase of 16%... More

Teva Pharma (TEVA) Ends Effort to Acquire Mylan (MYL)

July 27, 2015 6:07 AM EDT

Teva Pharma (NYSE: TEVA) announced that it has withdrawn its cash and stock proposal to acquire all of the outstanding ordinary shares of Mylan N.V. (Nasdaq: MYL) and Teva does not intend to continue to pursue a transaction with Mylan at this time. Tevas decision to terminate the proposal to acquire Mylan follows todays announcement that Teva has entered into a definitive agreement with Allergan to acquire Allergan Generics.

In... More

Teva Pharma (TEVA) to Acquire Allergan Genetics (AGN) in $40.5B Cash and Stock Deal

July 27, 2015 6:03 AM EDT

Teva Pharma (NYSE: TEVA) announced that it has signed a definitive agreement with Allergan plc (NYSE: AGN) to acquire Allergan Generics in a transaction valued at $40.5 billion. Upon closing, Allergan will receive $33.75 billion in cash and shares of Teva valued today at $6.75 billion, representing an estimated under 10% ownership stake in Teva, with the number of Teva shares determined based on Tevas volume weighted average trading prices during the 15 days prior to the announcement and five days following the announcement. Teva believes the acquisition will be significantly accretive to... More