These Israeli pharmaceutical stocks are down in the wake of Hamas attack

By James Rogers

Israeli pharmaceutical stocks took a hit on Monday following Hamas's attack

Shares of Israeli pharmaceutical companies took a hit Monday following Hamas's attack on Israel.

Shares of Israeli pharmaceutical giant Teva Pharmaceutical Industries Ltd. (TEVA) are down 3.6%. After falling premarket, shares of Taro Pharmaceutical Industries Ltd. (TARO) are up 1.3%.

Related: From $150 oil to no impact at all: What the surprise attack on Israel means to markets

Shares of biopharmaceutical company Kamada Ltd. (KMDA) are down 7.2% and Protalix BioTheraputics Inc.'s (PLX) stock is down 4.9%.

"The Protalix family is horrified by the unconscionable events in Israel over the past weekend which are currently ongoing and the scope of which is yet to be determined," Protalix said in a statement Monday. "On a personal level, we are heartbroken and pray for the victims as well as their families, friends and other loved ones."

"At the same time, we wish to reaffirm our employees, partners and stockholders that Protalix's operations have not been adversely affected by this situation despite our personal grieving," the company added. Protalix said that hostilities have not taken place where the company's facilities are located and it does not anticipate any disruption to the supply of its Elfabrio or Elelyso products.

Related: S&P 500 futures under pressure after Hamas attacks Israel

Shares of drug discovery and development company Compugen Ltd. (CGEN) are down 7.3% Monday.

Gamida Cell Ltd.'s (GMDA) stock is down 6.4%.

"All non-essential employees will be asked to remain home, prioritize their safety and follow the guidance of Israeli authorities," the cell-therapy company said in a statement released Saturday. "Currently, we plan for our Israel facilities to remain open for essential employees and manufacturing."

-James Rogers

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10-09-23 0951ET

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