Summary by Moomoo AI
Teva Pharmaceutical Industries reported robust Q3 2024 results, with revenues reaching $4.3 billion, up 13% YoY. The growth was driven by strong performance in generics across all regions and innovative portfolio expansion. AUSTEDO revenues surged 28% to $435 million, while AJOVY global revenues rose 21% in local currency terms to $137 million.The company raised its full-year 2024 outlook, projecting revenues of $16.1-$16.5 billion, adjusted EBITDA of $4.7-$5.0 billion, and non-GAAP EPS of $2.40-$2.50. Teva's generics business grew significantly, with U.S. revenues up 30%, Europe up 8%, and International Markets up 13% in local currency terms compared to Q3 2023.Teva's biosimilar candidate to Prolia® (denosumab) was accepted for review by the U.S. FDA and European Medicines Agency. The company remains on track to divest its API business, targeting completion in the first half of 2025. These developments align with Teva's "Pivot to Growth" strategy, focusing on delivering growth engines, stepping up innovation, sustaining its generics powerhouse, and optimizing its portfolio.
