Teva Pharma Guides FY24 Revenue Above Estimates; Intends To Divest API Business - Update

(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, Teva Pharmaceutical Industries Ltd (TEVA) initiated its adjusted earnings and revenue guidance for the full-year 2024.

For fiscal 2024, the company now projects adjusted earnings in a range of $2.20 to $2.50 per share on revenues between $15.7 billion and $16.3 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.42 per share on revenues of $15.57 billion for the year. Analysts' estimates typically exclude special items.

The company also announced its intention divest its API business (including its R&D, manufacturing and commercial activities) through a sale, which divestment is expected to be completed in the first half of 2025.

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