Billionaire investor and hedge fund manager John Paulson has built a large position in Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA). Paulson's hedge funds report for the fourth quarter of 2010, published earlier this week, show that over the course of the quarter Paulson bought 4.5 million shares of Teva, at an estimated cost of $230 million.
Paulson made large profits from short positions he built up ahead of the sub-prime market collapse, and in 2010 his position in gold rose more than 30%. Paulson gained over $1 billion just from his investment in Citi.
Teva reported revenue of $16.1 billion in 2010.
Teva shares closed yesterday at $51.79, giving a market cap of $46.51 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on February 17, 2011
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