Teva Pharmaceuticals (NYSE:TEVA) stock is climbing higher on Thursday after the pharmaceutical company announced a new growth strategy.
Teva Pharmaceuticals has laid out the four pillars of how it plans to grow with its new plan. They include focusing on its commercial portfolio, amplifying its pipeline, sustaining its generics division and better focusing the business.
Richard Francis, President and CEO of Teva Pharmaceuticals, said the following about the company’s growth strategy:
“Our new strategy is built on four key pillars to deliver short- and long-term growth from our commercial portfolio and biosimilars, innovative pipeline, generics powerhouse and focused capital allocation […] With our Pivot to Growth strategy, I am confident we will gain momentum as a stronger, bolder and simpler organization.”
Teva Pharmaceuticals is holding a meeting today to go over the plan with investors. A live webcast of that meeting will start at 12:00 p.m. Eastern. Francis and other members of the leadership team will host the event.
TEVA Stock Upgrade
Additionally, TEVA stock got an upgrade today from Evercore ISI analyst Umer Raffat. The analyst is taking a bullish stance on TEVA after the company announced the growth strategy. This saw Evercore upgrade TEVA from an “in-line” rating to an “outperform” rating.
TEVA stock is up 6.2% as of Thursday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
