Teva's 1st-qtr sales down, mainly hit by Copaxone competition

2 May 2019

Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA) today posted first-quarter 2019 financials, showing declines but these were slightly less than observers had expected. The company’s shares were down a modest 0.48% tat 4,425 shekels in Tel Aviv trading by 15:35 GMT+3.

Revenues in the first quarter of 2019 were $4,295 million, a decrease of 15%, or 12% in local currency terms, compared to the first quarter of 2018, mainly due to generic competition to best-selling multiple sclerosis drug Copaxone (glatiramer acetate) and a decline in revenues from our respiratory products and US generics business. This compares with the consensus analysts’ estimate of $4.38 billion.

Teva reported first-quarter earnings per share (EPS) of $0.60, $0.02 better than analysts’ estimate of $0.58. Gross profit on a generally accepted accounting principles (GAAP) basis $1,856 million in the first quarter of 2019, a decrease of 20% compared to the first quarter of 2018.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK