Summary

Teva Pharmaceuticals just reported strong earnings.

The company's restructuring is progressing according to plan.

Bleeding on Copaxone looks like it has slowed down to a trickle.

EPS and EBITDA should improve here on out.

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Teva Pharmaceuticals (NYSE:TEVA) just held another earnings call. It's one of Warren Buffett's holdings. How can I not keep an eye on it, right? I've never quite pulled the trigger on it. Those who did are up big in 2018:

TEVA Total Return Price data by YCharts

My reasoning for missing out here has been the valuation level, generics business and turnaround situation, combined with a heavy debt load. I'm not shy about venturing into tough situations. Call me an idiot, but I did write up Bausch Health (NYSE:BHC) for subscribers back in August 2017, which was in a similar situation but with much more hair (and more attractive valuation as a consequence):

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