By Steven Scheer
JERUSALEM (Reuters) -Teva Pharmaceutical Industries reported a slightly larger than expected rise in fourth-quarter profit, helped by double-digit sales gains in a trio of its branded drugs to treat migraines, Huntington’s disease and schizophrenia.
The world’s largest generic drugmaker said on Wednesday it earned 71 cents per diluted share excluding one-off items in the October-December quarter, down from $1.00 per share a year earlier. Revenue fell 5% to $4.2 billion.
Analysts had forecast earnings of 70 cents per share ex-items for the Israel-based company on revenue of $4.13 billion, LSEG I/B/E/S data showed.
Teva noted that in the fourth-quarter of 2023 its revenue was boosted by a $500 million upfront payment from Sanofi related to their collaboration on developing a treatment for inflammatory bowel disease.
For all of 2024, Teva recorded diluted EPS of $2.49 ex-items – above estimates of $2.47 – compared with $2.56 in 2023. Full-year revenue rose 6% in local currency terms, and 4% in dollar terms to $16.5 billion, led by higher sales of generic medicines, migraine drug Ajovy, Huntington’s treatment Austedo and its schizophrenia drug Uzedy.
Teva forecast 2025 revenue of $16.8 billion to $17.4 billion and diluted EPS ex-one offs of $2.35-$2.65. Analysts expect revenue of $17.1 billion and EPS of $2.76.
In the fourth quarter, U.S. sales of Ajovy rose 11% to $63 million, while Austedo grew 27% to $518 million, and Uzedy sales soared to $43 million from $9 million a year earlier.
(Reporting by Steven Scheer; editing by Jason Neely and Tomasz Janowski)
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