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Actionable news in TEVA: TEVA PHARMACEUTICAL INDUSTRIES LIMITED AMERICAN DEPOSITARY SHARES,

Teva shares plummet 18% on cheaper generic drug prices, pull rivals lower

Teva, the world's largest generic drug maker, missed profit expectations

Lower prices for generic drugs, though a boon for consumers, have been challenging drugmakers and other companies in the pharmaceutical supply chain—a trend that isn’t expected to go away soon.

Generic drugmaker Teva Pharmaceutical Industries Ltd. was the latest casualty this earnings season. Shares plunged 18% in extremely heavy morning trade for the NYSE-listed stock after the company TEVA, -18.55% missed profit expectations and reported generics revenue that was below expectations.

Shares of Teva rivals also fell. Mylan MYL, -3.39% shares dropped 3.9%, Perrigo Co. PRGO, -3.33% shares dropped 3.7%, Celltrion 068270, -3.39% stock dropped 3.4%, Taisho Pharmaceutical Holdings 4581, -2.28% stock dropped 2.3% and Dr...


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