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April 28, 2021, 7:40 a.m. EDT

Teva's stock gains after it beats earnings expectations

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By Jaimy Lee

Shares of Teva Pharmaceutical Industries Ltd. /zigman2/quotes/205657894/composite TEVA +0.48% gained 0.6% in premarket trading after the drug maker beat earnings expectations for the first quarter, even though sales of its multiple-sclerosis drug continue to dwindle. Teva had earnings of $77.0 million, or 7 cents per share, in the first quarter of 2021, compared to $66.0 million, or 6 cents per share, in the same quarter a year ago. Adjusted earnings per share were 63 cents, beating the FactSet consensus of 59 cents. Teva's revenue for the quarter was $3.9 billion, down from $4.3 billion in the first quarter of 2020. The FactSet consensus was $4.0 billion. The company attributed the decline in revenue to a number of factors, including a 5% drop in sales in North America and falling sales of Copaxone in North America, down 17% to $164 million, and in Europe, down 8% to $100 million. Copaxone was once the company's top-selling drug. Teva reaffirmed its guidance for 2021, saying it still expects revenue of $16.4 billion to $16.8 billion and EPS of $2.50 to $2.70. Teva's stock is up 10.4% for the year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.31% has gained 11.4%.

/zigman2/quotes/205657894/composite
US : U.S.: NYSE
$ 8.46
+0.04 +0.48%
Volume: 8.54M
Dec. 8, 2021 4:00p
P/E Ratio
12.90
Dividend Yield
N/A
Market Cap
$9.25 billion
Rev. per Employee
$419,443
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/zigman2/quotes/210599714/realtime
US : S&P US
4,701.21
+14.46 +0.31%
Volume: 2.16B
Dec. 8, 2021 4:59p
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