Teva Q3 Profit Beats Estimates and Raises Outlook
Teva Pharmaceutical Industries reported a higher third-quarter profit that beat analyst estimates driven by strong branded drug sales. The Israeli drugmaker also raised its full-year revenue outlook.
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TEVA PHARMACEUTICAL-SP ADR posted a third-quarter profit of 86 cents per diluted share, beating analyst estimates by 14 cents. The Israeli drugmaker outperformed expectations during the July to September period, driven by robust demand for its proprietary brand portfolio. Strong sales offset ongoing declines in legacy generic drug revenues.
