Teva Pharmaceutical Industries Ltd. has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) announced financial results for the quarter and year ended December 31st, 2019. Revenues for the fourth quarter reached USD 4.5 Billion and USD 16.9 Billion for the full year 2019. Non-GAAP EPS amounted to USD 0.62 Billion while full year 2019 EPS increased to USD 2.40.
“In 2019, we made great strides towards positioning Teva for renewed growth by completing our two-year restructuring plan, reducing our cost base by more than $3 billion, and reducing our net debt by more than $9 billion, all while maintaining our global leadership in generics, serving around 200 million patients every day,” said Mr. Kåre Schultz, Teva’s President and CEO.
“Our key growth products met major milestones in 2019, including the launch of AJOVY® in Europe, continued strong growth for AUSTEDO®, and the successful launch of our first biosimilar TRUXIMA® in North America. In 2020, we expect to see continued growth for AJOVY®, AUSTEDO® and our biosimilars.”
Mr. Schultz continued, “Looking ahead, we will further transform our manufacturing network, improve our profitability, and generate cash, which will further reduce our debt. We will enhance our biopharmaceutical offerings, and expand our key assets with additional indications and geographies.”
For FY 2020, the company expects revenues to range from USD 16.6 Billion to USD 17 Billion. Non-GAAP EPS is expected to range from USD 2.30 to USD 2.55.