Teva said weak U.S. markets and the ongoing political turmoil in Venezuela weighed on the company's second quarter performance. Forecasted per-share earnings for the year were lowered to between $4.30 and $4.50 from between $4.90 and $5.30.
Stock of Teva's industry peers were in the green on the news of the Israeli company's poor performance.
Others with exposure to the generics industry were also down. Impax Laboratories Inc. (IPXL) , was down 5.7% or $1.02 per share and Lannett Co. (LCI - Get Report) was lower by 6.1% or $1.15 per share to $17.60.
Takeover candidates Impax Laboratories, Lannett and Momenta have all been identified as potential take-out targets by TheStreet as the industry continues to feel pressure, especially in the face of a changing political landscape for healthcare and drug regulation.
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