Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Teva Jumps to Five-Month High in Tel Aviv Closing Gap With U.S.

Don't Miss Out —
Follow us on:

Jan. 4 (Bloomberg) -- Teva Pharmaceutical Industries Ltd. rose to the highest level in more than five months, closing the gap with U.S. shares of the world’s largest generic drugmaker.

The stock gained 3.1 percent to 165.60 shekels, the equivalent of $43.10, at 10:35 a.m. in Tel Aviv, the highest intraday level since July 18. The U.S. shares soared 6.8 percent to close at $43.10 yesterday.

RBC Capital Markets LLC said today it is “confident” Teva’s newly appointed chief executive Jeremy Levin will have the ability to “refocus and revitalize” the Petach Tikva, Israel-based company.

“We expect that Dr. Levin will focus the company towards areas of greatest opportunities in the future regardless of whether these exist in the generics or branded business,” RBC analysts wrote in a report today.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net