Teva reports downturn in 1st-qtr sales and profits

3 May 2022

Israel-based generics behemoth Teva Pharmaceutical Industries (NYSE and TASE: TEVA) today reported financial results for the quarter ended March 31, 2022.

Revenues in the first quarter were $3,661 million, a decrease of 8%, or 5% in local currency terms, compared to the first quarter of 2021. This decrease was mainly due to lower revenues in our North America segment primarily related to generic products and Copaxone (glatiramer acetate), offset by higher revenues from Anda and generic products in the Europe segment.

Teva said it earned $0.55 per diluted share excluding one-time items in the January-March period, down from $0.63 a share a year earlier. Analysts had forecast Teva would earn $0.55 a share ex-items on revenue of $3.76 billion, according to I/B/E/S data from Refinitiv.

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