Teva, which has been tightening its supply chain, turns in a surprising financial report

Teva Pharmaceutical Industries ($TEVA), which has been tightening its supply chain and manufacturing network, turned in better-than-expected earnings for its fourth quarter. According to Reuters, it surprised Wall Street by earning $1.42 per share when one-time costs were factored out. That was up from $1.32 a share a year earlier. Revenue grew 3% to $5.43 billion. Before his departure last fall, CEO Jeremy Levin laid out a plan to cut 5,000 jobs and about $2.5 billion in costs, in large part by saving on procurement and by moving manufacturing to lower-cost countries. New CEO Erez Vigodman takes over next week. Story | More