Teva Pharmaceutical Industries Ltd (NYSE:TEVA) shares are trading lower by 2.7% to $9.17 Monday morning amid conflict in the company’s home country, Israel. The Palestinian militant organization Hamas, which controls the Gaza Strip, launched a series of rocket attacks on Israel over the weekend.
These attacks continued into Sunday and resulted in significant casualties, with over 1,100 people reported dead, including 700 Israelis, over 2,000 injured and hundreds of civilians and military personnel held hostage in Gaza.
Geopolitical events can have broader economic repercussions, which can affect companies in various sectors, including pharmaceuticals. If the conflict leads to economic disruptions, reduced consumer spending or changes in government priorities, it could impact Teva’s sales and profitability.
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According to data from Benzinga Pro, TEVA has a 52-week high of $11.44 and a 52-week low of $7.08.
