Teva Pharmaceutical reports big drop in profits, slashes dividend
Israeli drugs group Teva Pharmaceutical Industries reported a steeper than expected drop in second-quarter earnings on Thursday, due to weaker prices in the United States, and cut its interim dividend by 75 percent. On a conference call with analysts Teva officials offered little in the way of hope for a turnaround, saying the company expects the fall in generic drug prices to accelerate in the second half of 2017 and on into 2018. “The board understands our shareholders’ disappointments,” said Chairman Sol Barer.
Source:: https://finance.yahoo.com/news/teva-pharmaceutical-reports-big-drop-134838142.html
