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rewrite this title and make it good for SEOTeva falls sharply on disappointing 2025 guidance

Shiri Habib-Valdhorn by Shiri Habib-Valdhorn
January 29, 2025
in Business Finance
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rewrite this title and make it good for SEOTeva falls sharply on disappointing 2025 guidance
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Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has opened the reporting season for Israeli companies by publishing its fourth quarter and full year 2024 financial results.

In the fourth quarter the company reported revenue of $4.2 billion and non-GAAP earning per share of $0.71, above the analysts’ expectations. Revenue in full year 2024 was $16.5 billion, at the upper end of $16.1-16.5 billion guidance, and 4.4% higher than 2023 revenue. Non-GAAP earnings per share in 2024 was $2.49 (the company’s guidance was $2.40-2.50). However, the company’s share price opened nearly 10% lower on the NYSE due to a disappointing 2025 outlook.

Teva has also provided guidance on 2025 for the first time. The company forecasts 2025 revenue of $16.8-17.4 billion, representing annual growth of 3.6% and non-GAAP earnings per share of $2.35-2.65. The analysts’ consensus was for annual revenue of $17.1 billion and non-GAAP earnings per share of $2.78, so that the profit guidance is below expectations.

Teva CEO Richard Francis said, “2024 marked a transformative year for Teva, resulting in a second consecutive year of growth, driven by our generic products and key innovative products. Focusing on rigorous execution of our Pivot to Growth strategy throughout the year, we continued to achieve important milestones in each of its four pillars, including surpassing the outlook for our key innovative products, growing our generics business across all segments, and accelerating our early-stage innovative pipeline, including the positive Phase 2b results for our duvakitug (anti-Tl1A) asset. These results pave the way for pivotal trials in Crohn’s disease and ulcerative colitis, as well as, potentially, other Immunological and fibrotic indications beyond, in collaboration with our partner, Sanofi.”

He added, “In 2025, we anticipate further progress in our key innovative growth drivers, while also executing on our complex generics and biosimilars business, supported by new product launches. We are also excited to advance to Phase 3 trials for our duvakitug (anti-TL1A) asset.”

Overall 2024 was a successful year for Teva. The share price rose 111% during the year, giving it a market cap of $25 billion, making it once again Israel’s most valuable company. The share price was boosted by the positive results for duvakitug, for the treatment of Crohn’s disease, which it is developing with Sanofi.

Published by Globes, Israel business news – en.globes.co.il – on January 29, 2025.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.


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