2024-07-26 07:30:15 ET
Summary
- Teva Pharmaceutical's stock is up 69% since December, driven by legal resolution, blockbuster drugs, debt reduction, and new product launches.
- Recent developments include the launch of biosimilars and generics, positive data on Uzedy and Ajovy, and an accelerated timeline for TEV-48574.
- Financially, Teva's current ratio is under 1, with upcoming debt maturities posing a challenge. Recommendation remains "Hold" pending Q2 earnings.
Introduction
Teva Pharmaceutical's ( TEVA ) stock is up 69% since I called for a " 2024 revival " last December. My excitement centered on the company's progress with its anti-TL1A drug, TEV-48574, as well as its high-flying drugs like Austedo and Ajovy. I last wrote about Teva in May, when I highlighted its Q1 results. Its current ratio creeped under 1 and the 50%+ gains since my December recommendation lowered its return potential in my view. I downgraded the stock to "hold."...
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For further details see:
Teva's Q2 Outlook: Key Developments In Biosimilars And Pipeline Drugs