By Steven Scheer
JERUSALEM (Reuters) -Teva Pharmaceutical Industries reported a higher than expected rise in second-quarter profit, helped by a 26% rise in sales of its branded drugs to treat migraines, Huntington’s disease and schizophrenia.
The world’s largest generic drugmaker said on Wednesday it earned 66 cents per diluted share, excluding one-time items, in the April-June quarter, up from 61 cents a share a year earlier. Revenue was flat in dollar terms at $4.18 billion.
Analysts had forecast earnings of 62 cents per share ex-items for the Israel-based company on revenue of $4.28 billion, LSEG I/B/E/S data showed.
Teva largely reaffirmed its 2025 estimates but revised its adjusted EPS forecast to $2.50-$2.65 from $2.45-$2.65.
The Israeli company still projects revenue of $16.8-$17.2 billion this year and said it was on track for 30% operating profit margin by 2027.
Generic drugs were largely flat globally in the quarter, falling in the United States but offset by gains in Europe.
In its key branded drugs, Huntington’s Disease treatment Austedo grew 19% to $498 million, while sales of migraine medicine Ajovy rose 31% to $155 million and Uzedy, a largely new drug to treat schizophrenia, jumped 120% to $54 million.
As a result, Teva raised its estimate for 2025 sales of Austedo to $2 billion-$2.05 billion. It sees sales of Ajovy at $630-$640 million and Uzedy at $190-$200 million.
It added it would double biosimilar revenues from 2024 to 2027, while it remained in negotiations to sell its active pharmaceutical ingredients (API) unit.
(Reporting by Steven Scheer, Editing by Louise Heavens)
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