Teva's Innovative Drug Portfolio Fuels Growth as Company Raises Outlook, Transitions to Direct NYSE Listing

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA ) stock is trading higher on Wednesday after the company reported second-quarter earnings and a direct U.S. listing. • Teva Pharmaceutical Indus shares are powering higher. What’s behind TEVA gains? NYSE Listing Transition Teva announces the replacement of its American Depositary Share (ADS) program with the direct listing of its ordinary shares on the New York Stock Exchange (NYSE). ADSs will be exchanged on a one-for-one basis for ordinary shares, which commence trading on the NYSE on Monday, Sept. 14. The transition aims to broaden Teva’s shareholder base, support its potential inclusion in leading indices, and optimize cost-of-capital. Key Brands Offset Generic Drug Weakness The company reported adjusted earnings of two cents, missing the consensus of 25 cents. Sales decreased 1% (-3% in local currency) to $4.142 billion, beati...