Teva reports disappointing 3rd-qrt financial
Shares of Israel’s Teva Pharmaceutical Industries (NYSE and TASE: TEVA) were down almost 5% at 2,975 shekels today, after it reported results for the quarter ended September 30, 2021, which was below the analysts' consensus on both revenue and profit.
Revenues in the third quarter of 2021 were $3,887 million, a decrease of 2%, or 3% in local currency terms, compared to the third quarter of 2020, below analysts’ predictions of more than $4 billion.
This decrease was mainly due to lower revenues in the North America segment, mainly due to Copaxone (glatiramer acetate) and generic products, partially offset by higher revenues from generic and OTC products in Teva’s Europe segment, novel drugs - Huntington’s disease agent Austedo (deutetrabenazine) and migraine treatment Ajovy (fremanezumab).
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