As the Israel-Palestine war enters its fourth day, the world’s largest maker of generic drugs, Teva Pharmaceutical Industries (NYSE:TEVA), said the company does not expect the war to have a significant impact on its business. This is based on similarities between the COVID-19 lockdown and previous conflicts.
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In particular, Teva said sales and production in Israel make up a marginal percentage of its global business, standing at 2% and 8%, respectively. Furthermore, to shield against operation breakdowns, the company said it maintains backup production locations for key products as a contingency plan.
Teva expressed sadness at the attacks on Israeli people, especially those targeting women and children. “As an Israeli company, we condemn this appalling assault and Teva stands with Israel in this time of great loss and challenge,” it said. “We are focusing now on the support, care, and well-being of our employees in Israel while closely monitoring the situation and ensuring business continuity to deliver our medicines to the millions of patients around the world who count on us.”
Is Teva Pharmaceuticals a Good Investment?
Turning to Wall Street, analysts have a Hold consensus rating on APLS stock based on two Buys, five Holds, and one Sell assigned in the past three months, as indicated by the graphic above. Nevertheless, the average TEVA price target of $10.64 per share implies 14.78% upside potential.
