Teva shares topple on profit warning, uncertain future

investments

By Steven Scheer and Ari Rabinovitch JERUSALEM (Reuters) – Teva Pharmaceutical Industries , the world’s biggest generic medicine maker, came under investor and market pressure on Thursday after saying it would miss 2017 profit forecasts. Shares in the Israeli-based company dropped by as much as 20 percent after it issued the profit warning, which it said was due to falling prices of generics in the U.S. market and weakening sales of its multiple sclerosis drug Copaxone, which fell 7 percent in the third quarter in the United States. Investors are pushing Teva, which is battling narrowing profit margins, a nearly $35 billion debt burden that could lead to a credit rating downgrade, for clarity on its future.


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