Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) saw its shares rise 3.08% in pre-market trading on Wednesday following better-than-expected second-quarter earnings, reflecting progress in its ongoing “Pivot to Growth” strategy.
The Israeli pharmaceutical company reported adjusted earnings per share of $0.66, exceeding analyst forecasts of $0.63. Revenue reached $4.2 billion, slightly under the consensus estimate of $4.28 billion but stable compared to the same quarter last year.
Growth was driven by Teva’s innovative product lineup, with several key drugs showing notable increases. Global sales of AUSTEDO hit $498 million, up 19% year-over-year in local currency terms. AJOVY generated $155 million, marking a 31% rise, while UZEDY’s revenue soared 120% to $54 million compared to Q2 2024.
“Teva’s performance this quarter stands as a testament to the exceptional strength of our innovative portfolio, which remains the primary engine driving our revenue growth,” said Richard Francis, Teva’s President and CEO. “Our key innovative products delivered a 26% increase in local currency, demonstrating their impact on our financial trajectory and value to patients.”
The company boosted its 2025 revenue forecast for key innovative products by $95 million at the midpoint but held firm on its full-year revenue guidance of $16.8 to $17.2 billion. Additionally, Teva raised the low end of its non-GAAP earnings per share outlook to a range of $2.50 to $2.65.
Teva’s transformation initiatives are progressing as planned, targeting net savings of approximately $700 million by 2027, with an expected $70 million in savings for 2025. The company remains focused on achieving a 30% operating profit margin by 2027.
Free cash flow for the quarter increased 47% to $476 million, up from $324 million in the same period last year, signaling enhanced operational efficiency.
Teva Pharmaceutical Industries
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