Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Teva Soars 17% In Pre-Market – No Dividend, No Workers, No Problems

Courtesy of ZeroHedge. View original post here.

Investors are panic-buying Israeli generic drugmaker Teva Pharmaceutical after the new CEO announces restructuring plan that involves eliminating 25% of global workforce, suspending its dividend, and warns of "downward pressure on the top line."

As WSJ reports, Teva Pharmaceutical is cutting more than 25% of its workforce, suspending its dividend, and closing factories and research facilities world-wide as it works to cut costs and pay down debt.

Teva, the world’s biggest seller of generic drugs, has suffered from declines in prices for its products in the U.S. and increased competition for its blockbuster multiple-sclerosis drug.

The two-year restructuring plan the company announced Thursday aims to cut $3 billion in costs by the end of 2019, out of an estimated $16.1 billion in 2017.

The dividend suspension impacts both its ordinary shares in Tel Aviv and American depositary receipts trading in New York.

Mr. Schultz, who was named as CEO in September and began serving in the role Nov. 1, inherited a business with falling profits, a huge debt pile and a collapsing share price.

"Making workforce reductions of this magnitude is difficult,” Mr. Schultz wrote in a memo to employees.

“However, there is no alternative to these drastic steps in the current situation.”

And investors love it!!!

Two words – "kitchen sink"


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!