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Teva Pharmaceutical Sharply Higher On Upbeat Q3 Results, Guidance

Shares of Teva Pharmaceutical Industries Ltd. (TEVA) have moved sharply higher over the course of the trading session on Thursday. After reaching its best intraday level in over a month, Teva is currently up by 11.6 percent.

The rally by Teva comes after the drugmaker reported third quarter adjusted earnings of $0.68 per share on revenues of $4.53 billion compared to analyst estimates for earnings of $0.54 per share on revenues of $4.46 billion.

Teva also raised its full-year adjusted earnings forecast to $2.80 to $2.95 per share from a previous estimate of $2.55 to $2.80 per share.

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