JERUSALEM (Reuters) – Israel-based Teva Pharmaceutical Industries reported first-quarter profit that met estimates on Wednesday and said it was on track to meet its 2021 targets due to growth in Huntington’s disease treatment Austedo and migraine product Ajovy.
The world’s largest generic drugmaker earned 63 cents per diluted share excluding one-time items in the January-March period, down from 76 cents a share a year earlier. Revenue fell 9% to $3.98 billion.
Analysts had forecast Teva would earn 63 cents a share ex-items on revenue of $4.02 billion, according to I/B/E/S data from Refinitiv.
Teva reaffirmed its 2021 forecasts of adjusted EPS of $2.50-$2.70 and revenue of $16.4-$16.8 billion, compared with adjusted EPS of $2.57 and revenue of $16.7 billion in 2020.
(Reporting by Steven Scheer)
