Daily Stock Setups

Rumors focus on Teva acquisition of Protalix: Protalix CEO; We will only sell if we receive an exceptional offer we cannot refus

Posted on: Sun, 25 Oct 2009 19:12:00 EDT

Symbols: TEVA

Are you looking to increase your ETF knowledge?

Oct 25, 2009 (Globes - McClatchy-Tribune Information Services via COMTEX) --
TEVA | Quote | Chart | News | PowerRating -- Rumors that Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) will acquire Protalix Biotherapeutics Inc. (AMEX:PLX) have become more persistent in recent days. Earlier this month Protalix reported successful results in its Phase III trial for the drug it is developing for Gaucher's disease.

On Friday a US website that specializes in capital market rumors reported that Teva wants to acquire Protalix for $20 per share, compared with the market price of $8.4 per share. The market was not impressed by the rumors and Protalix share fell 3.5 percent on Friday.

Interviewed by "Globes" Protalix CEO David Aviezer said that the company had no plans to be sold at present unless it receives an exceptional offer that it cannot refuse and at present there was no such offer on the table. However, he said that Protalix is seeking a strategic partner to market its drug and Teva is a reasonable candidate, although there is no concrete information that it is the only potential candidate.

Teva would have an advantage in marketing the Gaucher's drug because Israel would be one of the leading consumers of the Protalix treatment because of the high incidence of the disease among Jews. Teva has no investment in Protalix but relations are very good because they share the same chairman -- Eli Hurvitz. They also have two joint projects.

Although the acquisition is highly logical for Teva, it may well be that Protalix is asking a price that is not worth paying for just one product. However, strategic cooperation at present could lead to a sale in the future.

To see more of the Globes or to subscribe to the newspaper, go to
http://www.globes-online.com. Copyright (c) 2009, Globes, Tel Aviv, Israel
Distributed by McClatchy-Tribune Information Services. For reprints, email
tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax
to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave.,
Suite 303, Glenview, IL 60025, USA.

For full details on Teva Pharm Ind (TEVA) TEVA. Teva Pharm Ind (TEVA) has Short Term PowerRatings at TradingMarkets. Details on Teva Pharm Ind (TEVA) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.