Teva reports sales downturn but profits rise

10 February 2021

Israeli genetics giant Teva Pharmaceutical Industries (NYSE: TEVA) today reported results for the year and the quarter ended December 31, 2020, which disappointed, as the firm’s shares were down 4.3% at $12.26 in early New York trading. The stock fell 9.2% to 3,860.00 shekels by close of Tel Aviv business.

Revenues in 2020 were $16,659 million, a decrease of 1% in both US dollar and local currency terms, compared to 2019, mainly due to a decline in revenues from certain oncology products, Copaxone (glatiramer acetate) and certain respiratory products, partially offset by higher revenues from Austedo (deutetrabenazine) and Ajovy (fremanezumab).

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