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canada goose black friday sale NEW YORK/TEL AVIV, Dec 5 (Reuters) Teva Pharmaceutical Industries new Chief Executive Jeremy Levin has promised investors it will be a very different company going Canada Goose Online forward. Next week he has to prove it.
buy canada goose jacket Levin ability to paint a bright future for the world biggest maker of generic drugs at a meeting with investors and analysts on Dec. 11 in canada goose coats on sale New York became a bit more difficult last week, Canada Goose Outlet when Teva issued a 2013 earnings forecast that fell short of Wall Street estimates.
Levin, a big pharma veteran, is expected to shift Teva focus to branded drugs even as its most important such product, top selling multiple sclerosis treatment Copaxone, cheap canada goose uk faces new competition uk canada goose outlet and a 2015 patent expiration. Investors are also hoping for a meaningful boost to the annual dividend while new management works to jumpstart a stagnant share buy canada goose jacket performance.
canadian goose jacket made a lot of money in Teva and I seen this company wither in front of my eyes, said Dan Hunt, a co portfolio manager for RCM Capital Management Wellness Fund. Hunt fund no longer includes Teva shares, but RCM has small Teva holdings.
canada goose clearance most important signal (shareholders) need to hear on the record from Levin is it takes I will protect you Hunt said, Canada Goose sale adding that Teva has not delivered for its shareholders in years. shares are up about 2 percent in 2012 after falling 22.6 percent in 2011. They are off 35 percent from a 2010 peak at about $64. Shareholders of smaller Teva rivals Watson Pharmaceuticals Inc and Mylan Inc have fared far better with Watson up about 45 percent this year and Mylan shares up about 27 canadian goose jacket percent over the same period.
Canada Goose Jackets Levin has taken some preemptive steps to placate investors ahead of the meeting by announcing that the company plans to cut $1.5 billion to $2 billion in costs over the next five years, streamline operations and discontinue some research programs.
canada goose deals Morgan Stanley estimated that Copaxone sales account for 58 percent of Teva projected 2013 canada goose jacket earnings. Levin will have to reveal how https://www.canadagooseoutletstore.co.uk he plans to make up for the anticipated decline Canada Goose Jackets in Copaxone revenue beyond cost cutting efforts.
Generic drugs accounted for 56 percent of Teva revenue last year, but the company faces obstacles to generic growth in the United States, cheap Canada Goose the world largest market.
canada goose Following a wave of major patent expirations, the number of multibillion dollar drugs going generic will diminish after the next couple of years. And new generic drugs are facing competition sooner along with faster price declines. Generic drugs are also facing considerable price pressure in Europe.
SMALL ACQUISITIONS South African born Levin, a former senior vice president for strategy at Bristol uk canada goose Myers Squibb Co, took over as CEO of Israel biggest company in May, replacing Shlomo Yanai. drugmaker Cephalon, which has been viewed by some analysts Canada Goose Parka as a disappointment. The company last canada goose clearance month took a canada goose store $481 million impairment charge related to canada goose black friday sale the Cephalon deal.
Levin last week signaled a desire for more targeted acquisitions focused on Teva core areas of expertise, such as central nervous system disorders and respiratory diseases. animal health unit canada goose uk black friday to Bayer for up to $145 million. Investors canada goose clearance sale said Teva needs canada goose to improve production efficiency and downsize or close some of its plants.
Levin, who implemented at Bristol Myers a series of deals and alliances with small and large companies, has been credited with helping to guide Bristol through its enormous patent cliff as the blood clot preventer Plavix, which had been the world second biggest selling prescription medicine, lost canada goose uk outlet exclusivity.
key is smart deals and getting an estimate of what a reasonable growth rate is going forward, said Robert Caravella, equity research analyst for Victory Capital Management, which holds about $9 million in Teva convertible bonds.
canada goose store biggest issue is there not an understanding of where revenue and earnings are going to go Canada Goose online and how we going to get to that point, he said.
buy canada goose jacket cheap BIGGER DIVIDEND? Shareholders would also like to see Teva raise its dividend, which provides only a 2.5 percent return on the stock, below the industry average of about 4 percent. Alternatively, the company may decide to increase shareholder returns by boosting its $3 billion canada goose coats share buyback.
Steven Tepper, an analyst at brokerage Harel Finance, said Levin must demonstrate how Teva can again become a growth company or that it will be a value investment going forward through a significant dividend increase. plan will have to convince investors it making that move, Tepper said.
Canada Goose sale RCM Capital Hunt said Levin must present strong, formed, clear strategic vision of where the canada goose factory sale company is headed.
canada goose coats on sale The question is whether it will be enough to convince disenchanted investors such as Stewart Capital, which has more than $1 billion in assets under management but sold its Teva holdings shortly after Levin took over.
Canada Goose online Matthew DiFilippo, chief portfolio strategist for Stewart, was skeptical that Canada Goose Coats On Sale one individual could effect the change necessary to transform Teva back into an industry darling. while we recognized his talents, we also recognized the challenges they face and we sold, he said.
cheap Canada Goose A lot of money remains on the sidelines waiting for what Levin has to say, said Ori Hershkovitz, managing partner at Israel based pharmaceutical hedge fund Sphera. Levin needs to say he is buy canada goose jacket cheap committed to replenishing Teva branded pipeline and will do whatever it takes to replace those lost sales by 2016, Hershkovitz said, and he must the market believe canada goose uk shop it (Addtitional reporting by Steven Scheer in Jerusalem; Editing by Leslie Gevirtz).