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Here's Why Teva Pharmaceutical Industries Ltd (ADR) Is Sinking Like a Stone

TheMotleyFool

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Here's Why Teva Pharmaceutical Industries Ltd (ADR) Is Sinking Like a Stone

In response to reporting rough second-quarter results, shares of Teva Pharmaceutical Industries (NYSE: TEVA), a leading provider of generic drugs, dropped 24% as of 1:15 p.m. EDT on Thursday.

Here's a review of the key takeaways from the company's second-quarter results:

The lower-than-hoped for results also caused management to pull back on its guidance for the year. The company now expects adjusted full-year revenue to land between $22.8 billion and $23.2 billion. That's down from its prior outlook of $23.8 billion to $24.5 billion.

Source: Fool.com