|
The
world's largest generic drugmaker earned 63 cents per diluted
share excluding one-time items in the January-March period, down
from 76 cents a share a year earlier. Revenue fell 9% to $3.98
billion.
Analysts had forecast Teva would earn 63 cents a share ex-items
on revenue of $4.02 billion, according to I/B/E/S data from
Refinitiv.
Revenue was hit by lower income from respiratory products,
generic and non-prescription drugs, some oncology products in
North America and a 17% fall in sales of multiple sclerosis drug
Copaxone, which faces stiff generic competition, to $164
million.
Partially offsetting those, Austedo sales rose 20% to $146
million in the first quarter, while sales of Ajovy gained 8% to
$31 million.
Teva reaffirmed its 2021 forecasts of adjusted EPS of
$2.50-$2.70 and revenue of $16.4-$16.8 billion, compared with
adjusted EPS of $2.57 and revenue of $16.7 billion in 2020.
"Based on our results and expectations for the remainder of the
year, we are reaffirming our guidance," CEO Kåre Schultz said.
Teva's debt fell to $23.2 billion from $25.9 billion at the end
of 2020.
(Reporting by Steven Scheer; Editing by Kirsten Donovan)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
