Teva Pharmaceuticals (NYSE:TEVA) just served up some serious growth numbers in its Q3 2024 report, turning heads with a $4.3 billion revenuea 13% boost from last year's numbers. With its U.S. generics sales hitting over $1 billion and its key therapies like Austedo and the new schizophrenia treatment Uzedy soaring, Teva's strategic pivot is clearly paying off. Generics rocketed to $2.5 billion globally, and the company now expects even more revenue from Uzedy, raising its full-year forecast for the therapy.
CEO Richard Francis calls this a clear win for Teva's Pivot to Growth strategy, which is charging ahead by building both generics and high-potential new treatments. Teva's development pipeline is stacked with fresh innovations, including a promising biosimilar to Prolia and several late-stage assets primed for regulatory milestones. And while the company posted a net loss this quarter, driven by hefty impairment charges and legal settlements, it still raised its 2024 financial outlook, now eyeing revenue up to $16.5 billion with adjusted EPS reaching $2.50.
For investors, Teva's strengthened guidance and expanding cash flow speak volumes. With strong execution in place across core therapies and new pipelines alike, Teva's strategic restructuring is positioning it for a solid growth trajectory and long-term value. As Teva keeps rolling out results and ramping up innovations, it's looking like a good play for shareholders who want both growth and resilience in their portfolios.
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