ASPX

Image Source: epSos .de We outlined the case on Best Ideas portfolio holding Teva (TEVA) in our generics industry thesis here. The company was added to the portfolio July 24, 2013 at $41.22 per share. Teva Pharma’s shares are now trading north of $66 each, converging to our fair value estimate in just less than two years. With valuations stretched throughout much of our coverage universe, we’re going to continue to let this winner run. Driving the firm higher April 8 was news of Mylan’s (MYL) bid for Perrigo (PRGO) at a significant premium to the latter’s share price. Under the conditions of the non-binding proposal, Perrigo shareholders would receive $205 in a combination of cash and Mylan stock for … Read more