Billionaire Investor Dumps Teva Stock

May 21, 2015

As Teva fights to acquire an unwilling Mylan, billionaire investor George Soros' Fund Management has sold off all its Teva shares.

The fund sold off all of its $279.5M investment in Teva. The Soros Fund contiues to hold stock in other drugmakers, such as Flex Pharma, Impax Laboratories, Juno Therapeutics, Plasmatech Biopharmaceutical, Salix Pharmaceuticals, Vertex Pharmaceuticals, Actavis, and Endo International.

This comes amid a three-way takeover battle where Teva is pursuing Mylan with a $40 billion unsolicited offer, and Mylan is simultaneously chasing a reluctant Perrigo with a $36 billion cash-and-stock bid.

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