Taro Pharmaceuticals, once nearly broke, now has $6 billion market cap
Taro’s ability to raise prices seems surprising considering the reputation of the generic drug market. In its financial reports, the company mentions competition, but industry sources and data paint a different picture.
Taro Pharmaceutical Industries last Thursday reported a 15% decline in sales and a 20% drop in gross profits, but its stock still rose by 6% on the two subsequent trading days and by another 1.1% on Tuesday. There is an explanation for the stock’s bizarre behavior, but what is harder to comprehend is that based on its current share price, the company is now worth $6.3 billion. After all,...
Like us on Facebook and get articles directly in your news feed