Pandemic stockpiling over, sales deflate at Teva
Israel’s largest drugmaker and generics giant Teva Pharmaceutical (TASE: TEVA) beat analysts’ profit forecasts for the second quarter, with a slightly smaller dip in profits at $1.8 billion.
Earnings per share (EPS), at 55 cents, was lower than the 60 cents posted for the same period of 2019. Overall revenues fell to $3.9 billion, a reduction of 7%, with robust profitability in North America helping to stem the tide.
Coming off a period of extra demand linked to the initial period of the coronavirus, Teva faced lower sales of both generics and over the counter products in all regions.
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