Benzinga | Jul 28, 2021 07:24AM EDT

Recap: Teva Pharmaceutical Q2 Earnings



Shares of Teva Pharmaceutical Indus (NYSE:TEVA) fell 2.5% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 7.27% year over year to $0.59, which were in line with the estimate of $0.59.

Revenue of $3,910,000,000 up by 1.03% from the same period last year, which missed the estimate of $4,040,000,000.

Looking Ahead

Teva lowered its FY21 sales guidance from $16.4 billion-$16.8 billion to $16 billion-$16.4 billion.

Conference Call Details

Date: Jul 28, 2021

Time: 08:00 AM

ET Webcast URL: https://ir.tevapharm.com/Events-and-Presentations/events-and-presentations/default.aspx

Recent Stock Performance

Company's 52-week high was at $13.30

Company's 52-week low was at $8.24

Price action over last quarter: down 18.23%

Company Overview

Headquartered in Israel, Teva Pharmaceutical is the largest generic drug manufacturer in the world. The company was formed in 1901 and has a portfolio of more than 3,500 medicines--roughly 1 out of 9 generic prescriptions in the U.S. is filled with a Teva product. The company also develops branded pharmaceuticals in the central nervous system, oncology, and respiratory categories. Teva's generic drug sales represent slightly over half of total revenue, with branded drug and distribution revenue making up the balance. Teva is an aggressive filer to bring generic drugs to market when brand patents expire and has the most generic products pending Food and Drug Administration approval.