Teva Pharmaceutical Q1 results in focus with eye on revenue numbers

Teva Pharmaceutical (NYSE:TEVA) is scheduled to announce Q1 earnings results on Wednesday, May 10th, before market open.

The consensus EPS Estimate is $0.55 (flat Y/Y) and the consensus Revenue Estimate is $3.59B (-3.0% Y/Y).

Over the last 2 years, TEVA has beaten EPS estimates 50% of the time and has beaten revenue estimates 13% of the time.

Over the last 3 months, EPS estimates have seen 1 upward revision and 2 downward. Revenue estimates have seen 1 upward revision and 1 downward.

The Israeli company's stock fell -8.91% on Feb. 8 after Q1 revenue fell short of analysts' expectations, while adjusted EPS came in line.

Biosimilars Arena: Teva and Alvotech saw a setback in April after the FDA declined to approve AVT0, a high-concentration biosimilar of AbbVie's Humira. Blockbuster drug Humira — which contributed $21.2B in revenue in 2022 — has already seen introduction of biosimilars from Amgen in Q1. According to a report, biosimilars are set to save patients and the health care system $180B over the next five years as even more hit the market.

Meanwhile, generic drugmakers like Teva could benefit from a bill which was reintroduced in March that could help the companies bring generic products faster to the market.

Regulator News:

Earlier in May, the U.S. FDA approved Teva and MedinCell's long-acting schizophrenia therapy Uzedy. Teva's U.S. unit agreed to pay $6.73M to Florida to settle the state's price-fixing claims.