Bloomberg News

Teva Declines to Lowest in a Week as Third-Quarter Profit Falls

November 02, 2011

Nov. 2 (Bloomberg) -- Teva Pharmaceutical Industries Ltd. dropped to the lowest level in a week after the world’s largest generic drugmaker reported quarterly profit that fell for the first time in four years.

The shares retreated 1.2 percent to 144.20 shekels at 9:51 a.m. in Tel Aviv, the lowest since Oct. 26.

Third-quarter earnings excluding some costs fell 6 percent to $1.11 billion, or $1.25 a share. Profit was above the $1.23 a

share mean estimate of 24 analysts on Bloomberg. Revenue was $4.34 billion, below the $4.53 billion analyst forecast. Teva closed down 1.7 percent to 146 shekels.

To contact the reporter on this story: Susan Lerner in Jerusalem at slerner2@bloomberg.net

To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net


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