Teva profit beats forecasts, raises 2026 revenue estimates

By Steven Scheer

JERUSALEM, Nov 3 (Reuters) – Israeli drugmaker Teva Pharmaceutical Industries reported a higher-than-expected third-quarter profit on Tuesday, as strong sales of a trio of its branded medicines offset declines ​in generic drugs.

Teva raised its 2026 forecasts and Chief Executive ‌Richard Francis said he expects continued growth in 2027, led by the company’s branded drugs. Generic drugs are also expected to grow as its large pipeline of biosimilars come to market.

Its New York-listed shares were up 5.8% at $43 in ‌morning ​trading.

• Teva said it earned 86 cents per ⁠share, excluding one-time items, ⁠in the July-to-September quarter, up from 78 cents a share a year earlier.

• Revenue edged down 2% to $4.4 billion, with Teva citing lower sales of generic drugs, which fell 16% in the ​quarter.

• Analysts had forecast earnings of 72 cents per share on revenue of $4.22 billion, according to LSEG data.

• Teva slightly raised ⁠its 2026 revenue forecast to $16.7 billion to $17 ⁠billion, due to higher sales projections for branded drugs ​Austedo, Ajovy and Uzedy. It sees adjusted EPS of $1.92 to $2.11 this ​year.

• Sales of Austedo, a treatment for Huntington’s disease, grew ‌21% to $751 million and are expected to reach as much as $2.65 billion this year.

• Sales of migraine drug Ajovy jumped 61% to $269 million and are projected to reach as high as $960 million in 2026.

• ⁠Schizophrenia treatment Uzedy saw sales double to $85 million and is projected to hit around $300 million this year.

• Recently launched schizophrenia drug Weltruza will likely not ⁠have significant revenue ‌until the second half of 2027 and was ⁠in good position for 2028, Francis said. He ​expects a ‌peak of up to $2 billion.

• “While we’re doing impressive ​work on ⁠innovating drugs in our pipeline in the innovative side and growing that side of the business… just see what we’re about to do on the generics biosimilar business, because we’ve been working hard on this for three and a half years,” the CEO said.

(Reporting by Steven ScheerEditing ​by Bill Berkrot)