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Tags: APFN | ML | Israel | Teva

Israel's Teva Swings to Loss as Restructuring Proceeds

Thursday, 01 November 2018 10:38 AM EDT

JERUSALEM (AP) — Israeli drug maker Teva Pharmaceutical Industries has swung to a third-quarter loss as it proceeds with an aggressive cost-cutting program and adjusts to declines in key product categories.

But the company on Thursday gave a positive outlook as it reported stabilization in its key generics business, the launch of new products and progress with its restructuring.

Teva posted a loss of $273 million, or 27 cents a share, compared with earnings of $530 million, or 52 cents a share, the previous year. Revenue fell 19 percent from $5.617 billion to $4.529 billion.

Speaking to analysts, Chief Executive Kare Schultz said he is "very satisfied" with the company's performance.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Israeli drug maker Teva Pharmaceutical Industries has swung to a third-quarter loss as it proceeds with an aggressive cost-cutting program and adjusts to declines in key product categories.But the company on Thursday gave a positive outlook as it reported stabilization in...
APFN,ML,Israel,Teva
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2018-38-01
Thursday, 01 November 2018 10:38 AM
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