Teva shares suffer on reduced guidance despite revenue rise

16 November 2016

The share price of Israeli generics giant Teva Pharmaceutical Industries (NYSE:TEVA) dropped by more than 8% on Tuesday, when the company announced its third quarter 2016 results.

Revenues were up by 15% compared to the third quarter of 2015, primarily due to the inclusion of $887 million in sales from the Actavis generics business, which Teva bought from Ireland-incorporated Allergan (NYSE: AGN) in the summer for $40.5 billion.

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