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After falling for one week straight, shares of Teva Pharmaceuticals (TEVA) - Get Teva Pharmaceutical Industries Ltd. Report were up Monday, thanks to better-than-expected earnings and revenues for its fourth quarter.

Teva shares were up 3% ahead of market's open Monday, hitting $33.30 apiece. This Israeli company's shares tanked Feb. 6 when its CEO, Erez Vigodman, stepped down following a mutual agreement with the board. Yitzhak Peterburg took over as interim president and CEO of Teva, and the company has indicated that it is still searching for a permanent replacement for Vigodman.

Analyst Michael King of JMP Securities called this move in management a "shock to investors." 

"[The year] 2016 was a transitional year for Teva, one that included significant achievements, as well as challenges," said Yitzhak Peterburg interim president and CEO, in a statement.

"This is a critical time for Teva, and we are here to fix what is not working," he added during the company's call with investors Monday. 

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Teva reported earnings per share of $1.38 for the fourth quarter of 2016. Consensus estimates were around $1.35 apiece. Revenues, meanwhile, hit $6.5 billion for the quarter, as compared to street estimates of $6.24 billion. 

As Teva looks for a new CEO to replace Vigodman, the company is exploring strategic options, though officials declined to provide more details on what those options could include.

Among analysts and investors, a widespread belief is that Teva could split in two—one side, the company's generics business, the other, its branded drug company. The company plans to focus on reaping the benefits from its Actavis transaction in 2017 by "extracting synergies," according to its earnings release.

"We just need to focus, get our strategy right and move forward," member of the board, Sol Barer, who formerly worked as an executive at Celgene (CELG) - Get Celgene Corporation Report , said during Teva's conference call.

Teva has no plans to cut its dividend, which is 34 cents per ordinary share, and $17.50 per mandatory convertible preferred share, company officials noted during the conference call. 

The company reaffirmed its 2017 forecast of earnings per share of between $4.90 and $5.30, and revenue of between $23.8 billion and $24.5 billion during the call.