According to a recent SEC filing, reported by Economic Policy Journal, the largest stake held by the George Soros Fund Management is a $544.8 million stake in Teva Pharmaceutical Industries Limited.
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In case you didn’t know, Teva, headquartered in Israel, is the world’s leading generic drug manufacturer, with a huge global product portfolio and a direct presence in approximately 60 countries.
Teva’s branded businesses focus on CNS, oncology, pain respiratory and women’s health therapeutic areas as well as biologics. Teva currently employs approximately 45, 000 people around the world and reached $20.3 billion in net tevenues in 2013. Teva’s net revenues for the first quarter of 2014 amounted to $ 5.0 billion.
“What does global crony billionaire George Soros know that the rest of us don’t?” EPJ is asking.
Whatever he knows must be pretty big, because Soros has been alienating his friends on the left like gangbusters, including groups he had been supporting financially.
Back in May, the Palestinian BDS National Committee (BNC), the largest coalition in Palestinian civil society that is leading the global Boycott, Divestment and Sanctions movement against Israeli products, called for a boycott of the Soros Fund Management, as well as his Open Society Foundations, following the announcement that the leftist billionaire invested in SodaStream stock and increased his investment in Teva Pharmaceuticals, both Israeli companies that are “deeply involved in violations of international law.”
The Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) website says it’s committed to increasing access to high-quality healthcare by developing, producing and marketing affordable generic drugs as well as innovative and specialty pharmaceuticals and active pharmaceutical ingredients.
No doubt, if the Palestinians were able to offer similar values, Soros would have grabbed them. But a billionaire has to make a living.
Teva is attracting many major players these days, despite the political situation: Paul Tudor Jones, Jeremy Grantham, John Keeley and Ken Heebner. They’ve all bought the stock in 2014.