Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) reported its fourth quarter and full-year 2021 monetary outcomes at present, through which it beat the analysts’ expectations on revenue however missed on income. The corporate additionally offered a disappointing steerage for 2022 with income inside a spread of falling or rising 2% from 2021.
Within the fourth quarter of 2021, Teva reported income of $4.1 billion, beneath the analysts’ forecast of $4.29 billion. Non-GAAP web revenue incomes per share was $0.77, above the analysts’ expectations of $0.73.
2021 full 12 months income was $15.9 billion, beneath the analysts’ forecast of $16.16 billion. Non-GAAP earnings per share was $2.58, beating the analysts’ expectations of $2.52.
Teva’s income steerage for 2022 is $15.6 billion – $16.2 billion and anticipated non-GAAP earnings per share shall be $2.40-$2.60.
Teva president and CEO Kåre Schultz mentioned, “In 2021 Teva delivered stable outcomes, producing robust money movement and enhancing our profitability. Whereas COVID-19 continued to affect affected person conduct and world prescribing patterns, we continued to optimize our provide chain and manufacturing capabilities to supply important medicines to the tens of millions of sufferers who depend on us all through the world. We improved our gross and working margin and decreased our web debt, retaining us on our path to attain our 2023 long-term objectives.”
He added, “Wanting ahead to 2022, we anticipate to see continued development of our key merchandise AUSTEDO and AJOVY, in addition to to proceed to advance our core enterprise by means of the launch of top quality generic medicines world wide. We’re additionally excited in regards to the anticipated FDA approval and launch of Risperidone LAI, an vital therapy for sufferers affected by schizophrenia.
Teva has recycled $5 billion in debt by issuing a bond ensuing within the score businesses upgrading the corporate from unfavorable to steady.
Teva’s share worth fell by 17% in 2021 however has risen 6% in 2022 to this point. The corporate’s share worth is 1.57% larger in premarket buying and selling. The share worth closed down 2.01% yesterday at $8.29, giving a market cap of $9.144 billion.
Printed by Globes, Israel enterprise information – en.globes.co.il – on February 9, 2022.
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