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Teva Pharmaceuticals Reports Continued Growth in 2024
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Teva Pharmaceuticals Reports Continued Growth in 2024

Teva Pharmaceutical Industries Limited ( (TEVA) ) has released its Q4 earnings. Here is a breakdown of the information Teva Pharmaceutical Industries Limited presented to its investors.

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Teva Pharmaceutical Industries Ltd. is a global leader in the pharmaceutical industry, specializing in the development and manufacturing of generic drugs and innovative medicines across the world. Known for its extensive portfolio in generics, Teva also advances in biosimilars and specialty medicines, with operations spanning over 57 markets worldwide.

Teva has released its financial results for the year and fourth quarter of 2024, showcasing a second consecutive year of growth. The company reported revenues of $16.5 billion for the year, reflecting a 6% increase in local currency terms compared to 2023. Key drivers of growth included the performance of its generic products and a surge in sales of its innovative medicines such as AUSTEDO and AJOVY.

The company highlighted several strategic milestones in 2024, including successful first-to-market launches of generic versions of Sandostatin LAR Depot and Victoza, along with significant growth in its generics business across the US, Europe, and international markets. Teva’s biosimilar pipeline has expanded to 18 assets, with notable advancements in products awaiting regulatory review in the U.S. and Europe. Despite a GAAP loss, Teva achieved a non-GAAP diluted EPS of $2.49.

Teva’s “Pivot to Growth” strategy continues to be a focal point, aiming to enhance its innovative pipeline and optimize its portfolio. The company plans to advance its late-stage assets, including the anticipated Phase 3 trials for duvakitug in 2025. The company is also in the process of divesting its API business, aligning with its strategic objectives.

Looking ahead to 2025, Teva anticipates revenue growth between $16.8 billion and $17.4 billion, backed by further progress in its innovative growth drivers and new product launches. The company expects to maintain its focus on strategic capital deployment and disciplined cost management to support its growth ambitions.

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