Teva beats analysts predictions with increased revenues from growth drivers
The Israeli pharmaceutical company concluded the quarter with $4.5 billion in revenues, bringing it to a total of $16.6 billion for 2020
Sophie Shulman | 15:44 10.02.2021
Israel-based Teva Pharmaceutical Industries surpassed market expectations in the final quarter of 2020: the company concluded the quarter with $4.5 billion in revenues and a clear profit of $0.68 per share - analyst prediction had its revenues as $4.37 billion and $0.62 per share. "Our key growth drivers delivered promising results and milestones, including the continued growth of Austedo and our leading biosimilar Truxima, as Ajovy sales continued to improve following the launch of the auto-injector. Our generic performance was boosted by the successful launch of the generic versions of HIV-1 treatments Truvada and Atripla tablets in the U.S.,” Kåre Schultz, Teva’s President, and CEO said in a statement. “Looking ahead, we will continue to optimize our manufacturing network, portfolio, and pipeline, improve our profitability and generate cash, as we remain on track to repay our debt and achieve our long-term financial targets."