Teva Pharmaceutical stock crashes in Wall Street

According to US media outlets, Teva Pharmaceutical Industries and 12 other companies will be investigated for price fixing in the field of generics.
Teva Photo credit: Reuters/ Channel 2 News

Yesterday (Thursday), a possible investigation for price fixing dropped Teva’s stock by 10% to under 40 dollars a share, a big blow to Israel’s pharmaceutical company in the stock market on Wall Street.

The company’s shares started dropping sharply in New York after US media outlets published information regarding an investigation that will most likely open against the company as part of an examination of 12 pharmaceutical companies suspected of price fixing.

Erez Vigodman President of Teva Pharmaceutical Industries Photo credit: Sivan Farag/ Channel 2 News

According to US media outlets, the investigation is supposed to open officially before the end of the year. In addition, it was reported that the case is currently under the examination of the Department of Justice.

Teva stated that it is not aware of the existence of any facts that would cause the company to be summoned to testify.

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