(Reuters) – Israeli drugs group Teva Pharmaceuticals (NYSE:TEVA) reported a steeper than expected drop in second-quarter earnings on Thursday, due to weaker prices in the United States, and cut its interim dividend by 75 percent.
Along with a substantial reduction in its 2017 outlook, shares in the world’s largest generics drugmaker tumbled 16.5 percent in Tel Aviv and its New York shares were equally weak, opening down 17 percent at $26 – the lowest level since November 2004.
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