180 In a decisive move, Teva Pharmaceutical Industries Ltd has outpaced Q3 sales expectations, reporting a robust figure of $3.85 billion, a notable beat compared to the consensus of $3.72 billion. The company’s year-over-year growth stands at an impressive 7%, propelled by increased revenues from generic products across all segments. Noteworthy contributors to this surge include Austedo, a Huntington’s Disease treatment, in the North America segment, and Ajovy, a migraine drug, making strides across all segments. However, the stellar performance in sales did not translate perfectly to the adjusted earnings per share (EPS) metric. Teva reported Q3 adjusted EPS of $0.60, a slight increase from $0.59 in the previous year but falling short of the consensus estimate of $0.61. The adjusted gross profit margin witnessed an uptick, reaching 53.5%, attributed to a favourable mix of products in the North American segment. Despite this, the adjusted operating margin experienced a marginal decline from 27.2% to 26.5% year-over-year. The company’s adjusted EBITDA, a key indicator of operational performance, displayed positive momentum, climbing to $1.134 billion from $1.089 billion in the corresponding period last year. Teva’s Chief Executive Officer, Richard Francis, highlighted the consistent growth across all geographies, emphasizing the pivotal role played by Austedo, Ajovy, and the generics business. Encouraged by the strong and consistent results, Teva has raised its revenue outlook for 2023 for the second consecutive quarter. The revised forecast now ranges between $15.1 billion and $15.5 billion, surpassing the previous estimate of $15.0 billion to $15.4 billion and the consensus projection of $15.17 billion. Despite this upward revision, the adjusted earnings per share forecast remains at $2.25 to $2.55, in line with market expectations. As the positive trajectory continues, Teva Pharmaceutical Industries Ltd’s shares are witnessing a favourable market response, reflecting a 3.21% increase, reaching $9.33 at the last check on Wednesday. The company’s strategic outlook and robust financial performance position it for further growth and stability in the pharmaceutical landscape. You Might Be Interested In TIAA and Empower Collaborate to Expand Lifetime Income Options for DC Plans Boeing ecoDemonstrator to Test Cabin Recyclability and Efficiency Technologies Dana Receives Automotive News PACE Award for Innovative Transmission System TIM CEO Foresees Nearly €5 Billion Benefits from New Business Plan Zimbabwe and UAE Strengthen Ties as Trade Surges by 300% Securitas Reports Improved Free Cash Flow in Q4, Shares Surge by 8%