Teva hits new low after third quarter earnings

2 November 2017

The first job of Kåre Schultz, the new president chief executive of Teva Pharmaceutical Industries (NYSE: TEVA), will be to pick the company off the floor after another disastrous set of financial results and subsequent stock market pounding.

Shares in the Israeli drugmaker were down by 17% by lunchtime in New York trading at $11.60, and they have now slumped by almost 68% since the beginning of the year, reflecting just what a tough time it has been for Teva.

Stocks are now at their lowest value for 17 years.

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