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Teva Pharm Q3 profit misses estimates on lower North American sales -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Teva Pharmaceutical Industry’s logo can be seen in Tel Aviv (Israel), February 19, 2019. REUTERS/Amir Cohen/File Photograph

JERUSALEM (Reuters) – Israel-based Teva Pharmaceutical Industries (NYSE:) reported third-quarter profit that missed estimates, citing lower North American sales while Huntington’s disease treatment Austedo and migraine product Ajovy continue to show revenue gains.

According to the largest generic drugmaker in the world, it reported Wednesday that it had earned 59c per diluted share (excluding one-time items) for its July-September period. That’s up from 58c per share last year. Revenue decreased 2%, to $3.89 trillion.

Based on I/B/E/S data compiled by Refinitiv, analysts predicted Teva would earn 65c per share for revenue of $4.03billion.

Teva stated that its 2021 predictions for adjusted earnings per share (EPS) of $2.50-2.70 and revenue $16.0-16.4 billion were unchanged from the 2020 adjustedEPS of 2.57 and revenue $16.7 billion.

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