JERUSALEM (Reuters) – Teva Pharmaceutical Industries reported sharply higher fourth-quarter profit, helped by higher sales and an upfront payment from Sanofi as part of its collaboration to develop a treatment for inflammatory bowel disease.
The world’s largest generic drugmaker said on Wednesday it earned $1.00 per diluted share excluding one-time items in the October-December quarter, up from 71 cents per share a year earlier. Revenue rose 15% to $4.5 billion.
Analysts had forecast earnings of 77 cents a share ex-items for the Israel-based company on revenue of $4.01 billion, LSEG I/B/E/S data showed.
Teva projected 2024 revenue of $15.7-$16.3 billion and adjusted EPS of $2.20-$2.50. In 2023, it posted revenue of $15.8 billion and adjusted EPS of $2.56.
(Reporting by Steven Scheer; editing by Jason Neely)
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