Teva (TEVA -1.1%) trades down on a report that it faces a NIS 2.7B tax bill, with an additional...

|About: Teva Pharmaceutical Industr... (TEVA)|By:, SA News Editor

Teva (TEVA -1.1%) trades down on a report that it faces a NIS 2.7B tax bill, with an additional NIS 200M assessment due within a few weeks. In early January, the Jerusalem Tax Authority made an unprecedented tax assessment on the company after a disagreement about its right to an exemption. Separately, Morgan Stanley also cut the shares to Equal Weight today, citing a balanced risk/reward ratio.