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Teva releases financials, shares fall off cliff, plans to axe 7000 jobs

10:11 EDT 3 Aug 2017 | Pharmafile

Teva has released its second quarter financials and they do not make for great reading if you’re an investor. The company announced a $6 billion loss, though this can be attributed to a $6.1 billion goodwill impartment charge over its Allergan acquisition.

What will have worried investors more is that adjusted net income fell below market expectations ($1 billion instead of $1.1 billion) and coincided with the release of news that it plans to scale back its global operations due to the difficulties it is facing.

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