Teva beats estimates to send shares soaring

2 August 2023

Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA) made stock market gains of around 12% during Wednesday morning’s trading.

The company had earlier presented its latest quarterly financial results, which showed a rise in revenue of 2% to $3.9 billion.

"We are continuing to focus on our late-stage innovative pipeline delivery and early-stage pipeline development, both organically and through collaborations"Teva earned $0.56 cents per diluted share excluding one-time items in the April to June 2023 quarter, down from $0.68 per share a year earlier.

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