February 16, 2014 / 7:16 PM / in 4 years

Drugmaker Teva becomes Soros' biggest stock holding

Feb 16 (Reuters) - Israeli drugmaker Teva Pharmaceutical Industries Ltd became the largest single stock holding for Soros Fund Management LLC, the family office of billionaire investor George Soros, in the fourth quarter, according to a Feb. 14 filing with the U.S. Securities and Exchange Commission.

Soros’ holdings of Teva, the world’s largest generic drugmaker, reached just over 9.3 million shares, according to the filing, which was first reported by Bloomberg News on Sunday.

That brings Soros’ stake to just over $373 million, according to the SEC filing, or 4 percent of the fund’s value.

Earlier this month Teva reported that fourth-quarter earnings rose 8 percent, thanks to stronger sales of specialty medicines and U.S. generic drugs.

The company earned $1.42 per share excluding one-time items, compared with $1.32 a year earlier and beating analysts’ estimates of $1.40. Revenue rose 3 percent to $5.43 billion. The stock has risen 10.3 percent this year.

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