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Blocked Pipeline Leads Teva’s US Generics To Fall Well Below $1bn Floor

As FX Headwinds Chip Hundreds Of Millions More From Top-Line Guidance

 
• By Dean Rudge

Teva’s final quarterly earnings call of the year was indicative of its continued need to push valuable pipeline projects in the US to commercialization, as it once again lowered its full-year 2022 revenue guidance.

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Several Teva filings are yet to receive final FDA approval • Source: Shutterstock

A continued drought of low-competition, high-margin generic launches in the US dragged down Teva’s North America Generics sales by 6% in the third quarter to $806m, as management moved to reassure investors that big-ticket products were on the horizon, insisting: “This will only improve in 2023.”

Coupled with the much more significant factor of severe sustained foreign exchange headwinds, the firm once again took the axe to its full-year revenues guidance: a projection of $14.8bn-$15.4bn versus a previous $15.0bn-$15

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