⁍ Teva Pharmaceutical Industries’ quarterly profit beat estimates by two cents.
⁍ The company reaffirmed its outlook for 2020 despite uncertainty generated by the COVID-19 crisis.
⁍ The world’s largest generic drugmaker earned 55 cents per diluted share.
– Teva’s second-quarter profit dropped slightly, but the drugmaker beat analysts’ expectations. The company’s revenue fell 7% to $3.9 billion, but it still earned 55 cents per diluted share, down from 60 cents a year earlier. Excluding one-time items, the profit was 55 cents per diluted share. Reuters reports that analysts had expected 53 cents per diluted share. The company’s CEO, Kare Schultz, says Teva plans to file for regulatory approval of fasinumab with Regeneron in the first half of 2021, and it could become a “significant product” for the company.
Source: https://www.reuters.com/article/us-teva-pharm-ind-results/teva-pharm-second-quarter-profit-tops-forecast-reaffirms-2020-outlook-idUSKCN2511KP