Teva Pharmaceutical Industries Ltd TEVA reported third-quarter 2024 gross sales of $4.33 billion on Wednesday. It beat the consensus of $4.12 billion.
Revenues elevated 13% year-over-year and 15% on fixed foreign money. This was primarily because of larger revenues from generic merchandise in all segments (i.e., Austedo within the U.S. phase), and the sale of product rights in Europe and Worldwide Markets segments.
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Generics enterprise grows throughout all areas — elevated by 30% within the U.S., 8% in Europe, and 13% in Worldwide Markets, in native foreign money phrases in comparison with Q3 2023.
Generic merchandise revenues within the U.S. phase (together with biosimilars) have been $1.09 billion, up 30% yr over yr, the vast majority of which was pushed by larger revenues from lenalidomide capsules (the generic model of Bristol Myers Squibb & Co’s BMY Revlimid), and the remaining, primarily by the launch of liraglutide injection 1.8mg — a licensed generic of Novo Nordisk A/S’ NVO Victoza — and better revenues from epinephrine injectable resolution (the generic equal of EpiPen and EpiPen Jr).
- Austedo U.S. revenues elevated 28% to $435 million. Ajovy’s world revenues elevated by 21% to $137 million.
- Uzedy’s U.S. revenues of $35 million.
- Teva says its intention to divest Teva API is on monitor, concentrating on completion within the first half of 2025.
- Adjusted EPS of 69 cents, larger than 60 cents a yr in the past, beating the consensus of 66 cents.
- Adjusted gross revenue margin was 53.7% within the third quarter of 2024, in comparison with 53.5% within the third quarter of 2023.
- Adjusted working margin reached 28%, down from 26.5% a yr in the past.
- Adjusted EBITDA was $1.34 billion within the third quarter of 2024, a rise of 17%.
Outlook: Teva expects fiscal yr 2024 revenues of $16.1 billion-$16.5 billion versus prior steering of $16.0 billion—$16.4 billion and consensus of $16.256 billion.
The generic pharma participant expects 2024 adjusted EPS of $2.40-$2.50 versus prior steering of $2.30-$2.50 and consensus of $2.45.
The corporate raised 2024 Uzedy gross sales steering from round $80 million to roughly $100 million.
Worth Motion: Teva inventory is up 1.76% at $19.10 throughout the premarket session finally verify Wednesday.
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