Teva Beats First Quarter Profit Estimates on Drug Sales
Teva reported adjusted profit of 53 cents per share, exceeding analyst estimates of 48 cents. Results were driven by strong demand for branded medicines.
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TEVA PHARMACEUTICAL-SP ADR reported Q1 adjusted EPS of $0.53, beating LSEG analyst estimates of $0.48 on Wednesday midday. The results for the Israel-based firm were driven by strong demand for its branded medicine portfolio. Investors are monitoring Teva's shift toward high-margin branded drugs to offset pricing pressures in its core generics business.
Teva's $0.53 adjusted profit per share represents a 10.4% beat against market expectations. LSEG data confirmed the outperformance during the Wednesday morning session.
