Teva Beats Q2 Estimates, Raises Annual Outlook On Strong Generic, Austedo Sales
Portfolio Pulse from Vandana Singh
Teva Pharmaceutical Industries Ltd (NYSE:TEVA) reported strong Q2 2024 results, beating estimates and raising its annual outlook. The company saw significant growth in generic products and Austedo sales, leading to increased revenues and adjusted EPS. Teva also announced an accelerated development timeline for duvakitug.
July 31, 2024 | 2:38 pm
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Teva Pharmaceutical Industries Ltd (NYSE:TEVA) reported strong Q2 2024 results, with revenues of $4.16 billion, beating the consensus of $4.06 billion. The company raised its annual outlook, driven by strong sales in generic products and Austedo. Adjusted EPS also beat estimates.
Teva's strong Q2 performance, driven by higher revenues from generic products and Austedo, along with raised annual guidance, is likely to positively impact the stock price in the short term. The market has already reacted positively, with the stock up 6.22%.
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