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UPDATE 1-Teva Pharm nudges up earnings forecast, names new CFO

The world’s largest generic drugmaker earned 58 cents per diluted share excluding one-time items in the July-September period, down from 68 cents a year earlier. Revenue fell 6% to $4.26 billion due to generic competition for its multiple sclerosis drug Copaxone and declines in sales in the United States, Russia and Japan, although it posted gains in some of its newly launched drugs. Analysts had forecast Israel-based Teva would earn 59 cents a share ex-items on revenue of $4.24 billion, according to I/B/E/S data from Refinitiv. …read more […]

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Drake signs up for Toronto marijuana venture

Under the deal, the multi-Grammy award winner will take a 60% stake in a subsidiary of stock-market listed Canopy Growth , which produces cannabis in nearby Scarborough, Ontario. U.S.-listed shares of Canopy , which last year drew a major investment from Corona-brewer Constellation Brands, rose around 3% in early trading. Drake is just the latest of a list of artistes and celebrities who have partnered with Canadian cannabis companies since the country approved the use of recreational marijuana. …read more […]

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UPDATE 1-Chile's October exports plummet 21% amid unrest, copper, lithium down

The value of copper exports from the world’s top producer fell by 22% in October to $2.5 billion, driven primarily by falling prices for the red metal. Chile’s copper mines have mostly maintained production and kept operations running normally despite weeks of unrest in the country, industry insiders told Reuters this week, though there have been incidents at some operations and uncertainty lingers. The value of lithium carbonate exports, meanwhile, fell 9% to $73 million in October. …read more […]