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Teva to Divest Actavis Generics' UK & Ireland Operations
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Teva Pharmaceutical Industries Ltd. (TEVA - Free Report) announced that it has agreed to divest the UK and Ireland assets of Actavis Generics to Accord Healthcare, a subsidiary of Intas Pharmaceuticals Ltd, subject to a final approval from the European Commission (EC).
The deal has been settled with Accord Healthcare for an agreed value of £603 million.
Teva acquired Actavis Generics from Allergan plc in August. The divestment was part of an undertaking that Teva had made to the EC to get approval for its takeover of Actavis Generics. The transaction is expected to close within the next three months.
The divestment will include the sale of a portfolio of generic medicines, plus a manufacturing plant in Barnstaple, England. However, Teva has retained several Actavis products like non-overlapping generic products, specialty medicines, and OTC (over-the-counter) products.
Earlier this week, Teva completed the acquisition of Allergan’s U.S. generic distribution business, Anda, Inc., the fourth largest distributor of generic pharmaceuticals in the country.
Acquisitions have been an integral component of Teva’s expansion strategy. Over the past few years, the company has completed several major acquisitions. The company’s growth-by-acquisition strategy has enhanced its operational expertise and manufacturing capabilities substantially, provided support to its long-term investment in generics business, and aided expansion in emerging markets.
Amphastar Pharmaceuticals witnessed an increase of 340% and 12.7% in its earnings estimates for 2016 and 2017, respectively, over the last 60 days. It has beaten earnings estimates in all of the last four quarters, bringing the average beat to 456.2%. The company’s stock price has rallied 45% year to date.
Anika Therapeutics has seen its earnings estimates for 2016 and 2017 rise 9.4% and 11.5%, respectively, over the last 60 days. The company recorded a positive earnings surprise in each of the last four quarters, with an average beat of 42.19%. Its share price has jumped 25.6% year to date.
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Teva to Divest Actavis Generics' UK & Ireland Operations
Teva Pharmaceutical Industries Ltd. (TEVA - Free Report) announced that it has agreed to divest the UK and Ireland assets of Actavis Generics to Accord Healthcare, a subsidiary of Intas Pharmaceuticals Ltd, subject to a final approval from the European Commission (EC).
The deal has been settled with Accord Healthcare for an agreed value of £603 million.
Teva acquired Actavis Generics from Allergan plc in August. The divestment was part of an undertaking that Teva had made to the EC to get approval for its takeover of Actavis Generics. The transaction is expected to close within the next three months.
The divestment will include the sale of a portfolio of generic medicines, plus a manufacturing plant in Barnstaple, England. However, Teva has retained several Actavis products like non-overlapping generic products, specialty medicines, and OTC (over-the-counter) products.
Earlier this week, Teva completed the acquisition of Allergan’s U.S. generic distribution business, Anda, Inc., the fourth largest distributor of generic pharmaceuticals in the country.
Acquisitions have been an integral component of Teva’s expansion strategy. Over the past few years, the company has completed several major acquisitions. The company’s growth-by-acquisition strategy has enhanced its operational expertise and manufacturing capabilities substantially, provided support to its long-term investment in generics business, and aided expansion in emerging markets.
TEVA PHARM ADR Price
TEVA PHARM ADR Price | TEVA PHARM ADR Quote
Zacks Rank & Key Picks
Teva currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in health care sector include Amphastar Pharmaceuticals, Inc. (AMPH - Free Report) and Anika Therapeutics Inc. (ANIK - Free Report) . Both these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Amphastar Pharmaceuticals witnessed an increase of 340% and 12.7% in its earnings estimates for 2016 and 2017, respectively, over the last 60 days. It has beaten earnings estimates in all of the last four quarters, bringing the average beat to 456.2%. The company’s stock price has rallied 45% year to date.
Anika Therapeutics has seen its earnings estimates for 2016 and 2017 rise 9.4% and 11.5%, respectively, over the last 60 days. The company recorded a positive earnings surprise in each of the last four quarters, with an average beat of 42.19%. Its share price has jumped 25.6% year to date.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>