Major COVID-19 Vaccine Makers Reject Teva Pharmaceutical's Offer For Jab Manufacture Help: FT

Teva Pharmaceutical Industries Ltd’s TEVA CEO said that its offers to help manufacture coronavirus vaccines were turned down by major vaccine makers, despite having production capacity ready to deploy, Kare Schultz, CEO told the Financial Times.
Teva has production facilities that can package, and fill and finish, vaccine vials. In February, it had offered to deploy its resources to manufacture the shots.
Schultz said that the vaccine makers had “found capacity elsewhere that could fulfill the needs they had.”
Schultz said that the company remained in discussions with other, smaller vaccine manufacturers but was “not too optimistic” on a deal to finalize.
Today, Teva posted its first-quarter earnings with an adjusted EPS of $0.63, beating a consensus of $0.59.
Revenues were $3.9 billion, 9% lower on a Y/Y basis because of stockpiling in 2020 and lower demand this year as people elected to stay away from medical appointments during the pandemic.
In North America, Copaxone sales dipped 17% to $164 million, Austedo sales rose 20% to $146 million, while sales of Ajovy were up 8% to $31 million.
Income from respiratory products, generic and non-prescription drugs, and some oncology products in North America also fell.
Teva reaffirmed its 2021 forecasts of adjusted EPS of $2.50-$2.70 and revenue of $16.4-$16.8 billion.
Price Action: TEVA shares are down 1.35% at $10.23 during market trading hours on the last check Wednesday.

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