Ninth Consecutive Quarter of Growth
Teva Pharmaceutical Industries has achieved its ninth consecutive quarter of growth, with revenue up 5% to $3.9 billion.
Strong Performance of Innovative Brands
Innovative brands reached $589 million in sales, a 45% increase over last year. Austedo grew 39%, Ajovy increased by 26%, and Uzedy's sales doubled.
Positive Outlook and Biosimilar Launches
Teva plans to launch five new biosimilar products from 2025 to 2027, with potential for some to launch in 2025, further supporting growth.
Improved Financial Metrics
Non-GAAP EPS increased by 8% to $0.52, and the adjusted EBITDA grew by 3%. Gross margin improved by 140 basis points year-over-year to 52.8%.
Debt Reduction and Strong Cash Flow
Net debt reduced to $15 billion, with a net debt-to-EBITDA ratio just over three times. Free cash flow is strong, aligning with long-term goals.
Cost Savings and Margin Expansion Plan
Teva plans to achieve $700 million in net savings by 2027, improving operating margins to 30% by 2027.