Teva Pharmaceuticals (TEVA) Stock Gains Today on Mylan Takeover Talk

April 17, 2015 7:58 PM

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Teva Pharmaceuticals (TEVA) Stock Gains Today on Mylan Takeover Talk

NEW YORK (TheStreet) -- Teva Pharmaceuticals(TEVA - Get Report) shares are spiking in afternoon trading on Friday, up 2.41% to $65.02, after trading in negative territory earlier in the day following reports that the company is in the process of putting together a bid for fellow generic drug manufacturer Mylan(MYL), according to multiple media reports.

A potential merger would continue the recent spat of biopharmaceutical companies consolidating this year. Mylan made an unsolicited $28.6 billion bid earlier this month for rival Perrigo (PRGO) which may have provided the impetus for Teva to make its move on the company before it became too big of a...

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