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Teva Shares Are Taking a Beating and Dragging Down the Entire Drug Sector

10:23 EDT 3 Aug 2017 | Topix

Teva Pharmaceutical Industries Ltd. stock took a beating Thursday in premarket trading, sinking over almost 20% after the company cut its full-year profit guidance and slashed its dividend 75%. Teva said weak U.S. markets and the ongoing political turmoil in Venezuela weighed on the company's second quarter performance.

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