Health Roundup: Teva Pharmaceutical (NASDAQ:TEVA) New Leader Plans to Cut Annual Cost
Teva Pharmaceutical Industries Ltd.’s (NASDAQ:TEVA) new manager pledged to restructure the drug maker, containing a lowering in annual costs of almost $2 billion over the coming five years.
Jeremy Levin, who sat at the driving seat of the Israel-located company in May, also reported on Tuesday in a meeting with experts and investors in New York he would go for small- to mid-sized takeovers along with divestitures of few non-core assets.
In last trading session, Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA) dropped-2.00% and closed at $41.67 with the total traded volume of 7.71 million shares. TEVA has market capitalization of $36.17 billion.
TEVA has earnings per share of $2.44 with the net profit margin of 10.54%. Its price to earnings ratio ended at 17.06.
Children’s medicine manufacturer, Pernix Therapeutics Holdings Inc. (PTX) reported on Tuesday that it would purchase insomnia treatment manufacturer Somaxon Pharmaceuticals Inc. (SOMX) for almost $25 million in stock.
In last trading session, Pernix Therapeutics Holdings Inc (NYSE:PTX) moved down -3.53% to close at $7.65 and its overall volume during last trading session was 47,891 shares. Its opening price was $7.98 while its shares hit the day high price of $7.98 and day low of $7.26.
It would be the third agreement in not more than two months for Pernix, which manufactures the cough and cold treatments Brovex, Aldex, and Pediatrex, and Cedax, an antibiotic for middle ear infections. San Diego-located Somaxon (SOMX) manufacturer’s Silenor, a medicine that was accepted in 2010 to cure both short- and long-term insomnia.
Somaxon Pharmaceuticals, Inc. (NASDAQ:SOMX) reported the gain of +80.27% with the closing price of $2.65. The overall volume in the last trading session was 2.22 million shares. The total market capitalization remained $19.06million.
SOMX is ahead of its 52 week low with 105.43% and its last month’s price volatility remained 8.20%. Company’s current year earnings per share decreased with -10.24%.
Johnson & Johnson (NYSE:JNJ)
The stock has now dropped about -1.38% from its record high price level, and has advanced by 12.43% for this year. It closed at $71.10, trading 7.90% above its 200 day moving average and -2.55% above its 20 day moving average. Latest close brings its distance from its 52-week low at +17.29%. The stock has a PE ratio and their market value is $197.04B.
Pfizer Inc. (NYSE:PFE)
As of latest close, Pfizer Inc. (NYSE:PFE) shares are up about 23.09% for 2012 and recently topped out a 52-week high of $26.09 (10/18/2012). The shares slipped above the 200-Day SMA ($11.44) and are now standing3.33% below 50-day SMA. The performance measured for the month was +6.08% and weekly performance appeared at +1.87%.
