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Mar 31, 2024
Teva Q1 2024 Earnings Report
Teva's Q1 2024 performance was driven by growth in generics and AUSTEDO, with revenues increasing by 5% in local currency terms.
Key Takeaways
Teva Pharmaceutical Industries Ltd. reported a positive start to 2024, with global revenues of $3.8 billion, reflecting a 5% increase in local currency terms compared to Q1 2023. This growth was fueled by robust performance in the generics business across all regions and continued expansion of innovative brands AUSTEDO and AJOVY. The company reaffirmed its full-year 2024 financial outlook.
Q1 2024 revenues reached $3.8 billion, a 5% increase in local currency terms compared to Q1 2023, driven by generics and AUSTEDO.
Generics business grew across all regions, with a 9% increase in local currency terms globally compared to Q1 2023.
AUSTEDO sales increased by 67% in the U.S. compared to Q1 2023, reaffirming the 2024 revenue outlook of approximately $1.5 billion.
AJOVY revenues increased to $113 million in Q1 2024, up 18% from Q1 2023.
Revenue by Segment
Forward Guidance
Teva reaffirmed its full year 2024 business outlook.
Positive Outlook
- Revenues of $15.7 - $16.3 billion
- Adjusted EBITDA of $4.5 - $5.0 billion
- Non-GAAP diluted EPS of $2.20 - $2.50
- Free cash flow of $1.7 - $2.0 billion
Historical Earnings Impact
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Avg. Return Before/After Earnings
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