Teva shares slide on generic Copaxone fears
By Steven Scheer and Tova Cohen TEL AVIV (Reuters) – Teva Pharmaceutical Industries shares slid five percent on Sunday after U.S. regulators approved a generic version of its top-selling multiple sclerosis drug and amid reports it was mulling a bid for rival Mylan. Teva's Tel Aviv shares fell to 249.80 shekels ($64) late on Sunday, the first day of trading since both news hit the market on Thursday after Israel's market closed for the weekend. Teva's New York-listed shares fell 3.8 percent on Thursday but gained 2.2 percent on Friday, ending the week at $64.91. In a potentially major blow for Teva, the U.S. Food and Drug Administration approved the first generic version of multiple sclerosis drug Copaxone, which accounts for about half the company's profit.
