Teva Pharmaceutical Industries Ltd (ADR) TEVA was down nearly 4 percent at $35.60 in after-hours trading after closing out the regular trading session up 1.4 percent.
After the bell, Teva reaffirmed its 2016 guidance. Revenues for full year 2016 are expected to be $21.6-$21.9 billion and revenues for the fourth quarter of year 2016 are expected to be $6.2-$6.5 billion.
Traders may have been looking for stronger guidance, leading to the selloff in the after-hours session.
The stock was under a consistent slide in price since September. In August, the company was denied patents for Copaxone. Earlier this month, rumors of another patent denial circulated.
Teva was also named in an investigation today by Ontario’s Ministry of Health and Long-Term Care in an alleged kickback scheme with two Costco Wholesale Corporation COST pharmacy directors. However, it's unconfirmed whether they're being directly investigated.
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