Teva Pharmaceutical Industries Ltd (TEVA) stock plunged over 5% in Thursday's intraday trading session, following the company's mixed fourth quarter 2024 earnings release and guidance for 2025 that fell short of analyst estimates.
The Israeli pharmaceutical giant reported revenues of $16.54 billion for the full year 2024, up 4% from the prior year and slightly exceeding expectations. Adjusted earnings per share for 2024 came in at $2.49, within the guided range of $2.40-$2.50.
However, Teva's adjusted earnings guidance for 2025 in the range of $2.35-$2.65 per share fell below the consensus analyst estimate of $2.76, disappointing investors and triggering the sell-off in the stock.
The company cited expected pricing pressure and generic competition, particularly for its key multiple sclerosis drug Copaxone, as factors weighing on its 2025 earnings outlook. Sales of Copaxone are anticipated to fall to around $370 million in 2025, down from $504 million in 2024.
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