Teva Pharmaceutical Industries TEVA shares are trading lower on Tuesday due to the U.S. being poised to charge the company in generic drugs price-fixing probe.
Teva Pharmaceutical is the largest generic drug manufacturer in the world with roughly 60 manufacturing and R&D facilities. The company was formed in 1901 and has a portfolio of more than 3,500 medicines--roughly 1 out of 9 generic prescriptions in the U.S. is filled with a Teva product.
The company also develops branded pharmaceuticals in the central nervous system, oncology, and respiratory categories.
Teva's generic drug sales represent slightly over half of total revenue, with branded drug and distribution revenue making up the balance. Teva is an aggressive filer to bring generic drugs to market when brand patents expire and has the most generic products pending Food and Drug Administration approval.
Shares were trading down 4.05% at $9.24 at time of publication on Tuesday. The stock has a 52-week high of $13.76 and a 52-week low of $6.25.
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