At the current share price, the midpoint of the 2012 guidance range represents a P/E of about 7.5x, which shows how far Teva’s star has fallen in the past year or two.
Without saying so formally, Teva has clearly backed off from its 2015 sales and earnings guidance issued in early 2010 (#msg-56956538).
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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