Teva's latest earnings beat expectations but generics slide continues
Israeli drugmaker Teva Pharmaceutical Industries (NYSE and TASE: TEVA) reported its fourth-quarter and full-year 2021 financial results on Wednesday.
The company earned $0.77 per diluted share excluding one-time items in the October to December quarter, up 13% from $0.68 a year earlier. Revenue fell 8% to $4.1 billion, meaning that falling sales have been seen in three of the four quarters of 2021.
Teva was grateful that gains in North American sales of Huntington’s disease treatment Austedo (deutetrabenazine) and migraine product Ajovy (fremanezumab) helped to offset declines in generics, a market that continues to be challenging for many companies.
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