JERUSALEM (Reuters) – Teva Pharmaceutical Industries reported higher than expected second-quarter profit boosted by a jump in sales of its Austedo treatment for Huntington’s Disease.
The world’s largest generic drugmaker said on Wednesday it earned 56 cents per diluted share excluding one-time items in the April-June quarter, down from 68 cents per share a year earlier.
Revenue rose 2% to $3.9 billion, with Austedo sales up 51% in North America to $308 million.
Analysts had forecast Israel-based Teva would earn 53 cents a share ex-items on revenue of $3.71 billion, I/B/E/S data from Refinitiv Eikon showed.
For 2023, Teva revised its revenue forecast to $15.0-$15.4 billion from $14.8-$15.4 billion, after 2022 revenue of $14.9 billion.
It maintained its forecast of adjusted EPS of $2.25-$2.55, versus $2.52 in 2022.
(Reporting by Steven Scheer; editing by Jason Neely)
