Procore signs multi-year strategic collaboration agreement with AWS
NEW YORK - On Wednesday, Teva Pharmaceutical (TADAWUL:2070) Industries Ltd. (NYSE:TEVA) reported second-quarter earnings that exceeded analyst expectations, as the company continues to execute its "Pivot to Growth" strategy.
The company’s shares were up 3.08% in pre-market trading following the release.
The Israel-based pharmaceutical giant posted adjusted earnings per share of $0.66, beating analyst estimates of $0.63. Revenue came in at $4.2 billion, which was slightly below the consensus estimate of $4.28 billion but represented a flat performance compared to the same quarter last year.
Teva’s innovative product portfolio drove the company’s performance, with key products showing strong growth. AUSTEDO revenues reached $498 million globally, up 19% YoY in local currency terms, while AJOVY generated $155 million, a 31% increase. UZEDY continued its rapid growth with revenues of $54 million, up 120% 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 raised its 2025 revenue outlook for its key innovative products by $95 million at the midpoint, while maintaining its overall revenue guidance of $16.8-17.2 billion for the full year. Teva also increased the low end of its non-GAAP EPS guidance to $2.50-2.65.
Teva’s transformation programs are on track to deliver approximately $700 million in net savings by 2027, with about $70 million expected in 2025. The company remains focused on achieving its target of 30% operating profit margin by 2027.
Free cash flow for the quarter increased by 47% to $476 million, compared to $324 million in the same period last year, demonstrating improved operational efficiency.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.