Teva soars as 1st-qtr beats expectations

7 May 2020

Israel-based Teva Pharmaceutical Industries (NYSE: TEVA) today reported results for the quarter ended March 31, 2020, showing that revenues were $4,357 million, an increase of 5% in both US dollar and local currency terms, compared to the first quarter of 2019.

Market reaction was positive, sending Teva’s shares rocketing 17.8% to 4,148.00 shekels by close of Tel Aviv trading.

This increase was mainly due to higher revenues from generics and OTC sales in Europe, higher revenues from certain brand-name drugs.

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