Teva Pharmaceutical Posts Lower Q3 Sales & Profits, Trims FY22 Revenue Outlook

Teva Pharmaceutical Industries Ltd's TEVA Q3 sales reached $3.59 billion, shrinking 8% Y/Y, missing the consensus of $3.83 billion.
The decrease is mainly due to lower revenues from generic products in North America and Copaxone, partially offset by higher revenues from Austedo in North America and generic products in the Europe segment.
The adjusted gross margin was 53% compared to 53.6% a year ago. Higher operational costs mainly drove this decrease.
The adjusted operating margin reached 27.2% from 26.8% a year ago.
Adjusted EBITDA declined 7% to $1.09 billion.
Adjusted EPS of $0.59 came below the Wall Street estimate of $0.62.
Outlook: Teva anticipates FY22 sales of $14.8-$15.4 billion, down from prior guidance of $15.0-$15.6 billion, compared to the consensus of $15.46 billion.
It reaffirms adjusted EPS of $2.40 - $2.60, compared to the consensus of $2.50.
Teva forecasts Copaxone revenues of approximately $700 million.
Price Action: TEVA shares are down 4.34% at $8.38 during the premarket session on the last check Thursday.

Earnings Calendar