Why Teva Stock Shot More Than 3% Higher Today

Teva Pharmaceutical Industries (NYSE: TEVA) stock closed the trading week in style, rising by over 3% on a bleak and bearish day for the wider market. Teva Pharmaceuticals, the company's key subsidiary, has reached an agreement with the southern state's attorney general to settle accusations of price-fixing. Under the terms of the arrangement, Teva is to pay just under $3.35 million; in return, once the funds are handed over Georgia will dismiss all claims against the company in the case.