Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA) announced that an updated investor presentation in connection with its proposed combination with Mylan N.V. (NASDAQ: MYL) is available on the Investor Relations section of the Company’s website and will be filed with the Securities and Exchange Commission (“SEC”).

Erez Vigodman, President and CEO of Teva, commented, “Our strong financial and operating performance demonstrates that great people, great products and world-class execution of our strategy are coming together in a powerful way at Teva. Teva has built the foundation for accelerated growth and an even stronger future – and we will continue to evolve to deliver on our strategy and achieve our goals. Together with Mylan, we would have the infrastructure and the capabilities to more quickly pursue a differentiated business model that meets the evolving needs of patients and customers and support the highest levels of quality and clinical excellence. We are committed to making this transaction a reality and delivering the value that our stockholders and the other stakeholders of both companies deserve.”

Among other things, the presentation notes:

  • The Teva Board and management team are committed to consummating a transaction as soon as possible, and the Company is ready and willing to meet with Mylan and its advisors immediately.
  • Teva’s proposal is extremely attractive for Teva and Mylan stockholders and all other stakeholders.
  • The proposed combination makes compelling strategic, financial and cultural sense.
  • The combined company will have a strong and flexible financial profile, including substantial debt capacity and an investment grade rating.
  • Teva has carefully studied the regulatory and antitrust aspects of the combination and believes that all necessary clearances can be completed in 2015.
  • The strength of Teva’s business, pipeline, leadership and long-term growth prospects.
  • The significant achievements and robust financial performance Teva has generated through its transformation.

As previously announced on April 21, 2015, Teva has proposed to acquire Mylan for $82.00 per share, with the consideration to be comprised of approximately 50 percent cash and 50 percent stock. Teva’s proposal for Mylan implies a total equity value of approximately $43 billion. Teva’s proposal represents a 48.3% premium to the unaffected stock price of Mylan on March 10, 2015, the last day of trading prior to widespread speculation of a transaction between Teva and Mylan. Teva’s proposal is contingent on Mylan not completing its proposed acquisition of Perrigo or any alternative transactions.

Barclays and Greenhill & Co. are serving as financial advisors to Teva. Kirkland & Ellis LLP and Tulchinsky Stern Marciano Cohen Levitski & Co are serving as legal counsel to Teva, with De Brauw Blackstone Westbroek N.V. andLoyens & Loeff N.V. acting as legal advisors in the Netherlands. (Original Source)

Shares of Teva closed yesterday at $61.93 . TEVA has a 1-year high of $68.75 and a 1-year low of $47.36. The stock’s 50-day moving average is $63.21 and its 200-day moving average is $58.23.

On the ratings front, Teva has been the subject of a number of recent research reports. In a report issued on April 30, Oppenheimer analyst Akiva Felt maintained a Buy rating on TEVA, with a price target of $77, which implies an upside of 24.3% from current levels. Separately, on April 29, Standpoint Research’s Ronnie Moas upgraded the stock to Buy and has a price target of $80.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Akiva Felt and Ronnie Moas have a total average return of 30.0% and 9.6% respectively. Felt has a success rate of 64.9% and is ranked #35 out of 3589 analysts, while Moas has a success rate of 74.5% and is ranked #9.

The street is mostly Bullish on TEVA stock. Out of 10 analysts who cover the stock, 7 suggest a Buy rating and 3 recommend to Hold the stock. The 12-month average price target assigned to the stock is $71.88, which implies an upside of 16.1% from current levels.

Teva Pharmaceutical Industries Ltd develops, produces and markets generic, branded & OTC medicines. Some of its products are Copaxone, Azilect & Provigil.