Debt by Any Other Name

An updated look at Teva Pharmaceutical's (TEVA) real leverage profile

We wrote about Teva Pharmaceuticals (TEVA) in our April 14, 2022 piece and noted that TEVA was a company many were viewing as a turnaround story. The company had ceased making flawed acquisitions and was devoting itself to fixing the balance sheet by retiring debt. In the last year, TEVA had bounced up and down on various deals to settle opioid lawsuits with several states.

The company has been a treasure trove of accounting distortions that make it difficult to determine what is really going on. We wanted to review the situation again and see if that has changed. Our answer is – Not Really

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