Teva Pharma stock plunged Monday as a major regulatory and pricing dispute escalated in New Jersey, where the company is seeking to buy up to 60% of the U.S. market.

The stock fell to $13.90 in New Orleans.

Teva had said it would buy up as much as $8 billion in stock to bolster its balance sheet.

A spokesman for the company declined to comment.

Tevas parent company Teva Sciences said in a statement that it has a plan to address the regulatory and financial challenges that arose.

Tevaranta, which has a strong presence in the United States, had been expected to announce the deal Monday.

Tevianta, the world’s second-largest drugmaker by market value, said it is in discussions with Teva to resolve the issue.

A source familiar with the matter said Teva is working with Tevarantas parent, Teva, to resolve issues in the U