Teva Climbs as CEO Sees Robust Growth After Allergan Deal
- CEO Vigodman says generic-drug purchase to close ‘at any time’
- Adjusted earnings, sales estimates exceed analysts forecasts
Teva Surges on Robust Outlook, Allergan Deal
This article is for subscribers only.
Teva Pharmaceutical Industries Ltd. surged the most in a year after Israel’s biggest company presented investors with a rosy picture of the drugmaker’s future, starting with the imminent approval of its $40.5 billion deal with Allergan Plc.
Chief Executive Officer Erez Vigodman, speaking on a conference call Wednesday, said he knew of no reason why the purchase of Allergan’s generic business would be delayed, assuaging investors who had been anxious about the timing of the closing. The U.S. Federal Trade Commission approval is the last step in the process and could come at any time, he said.