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Teva Raises Guidance As Generics Enjoy Solid Growth In Q2

Biosimilars Business Boosted By Adalimumab Launch In US Ahead Of Ustekinumab Opportunity

 
• By Dave Wallace

Teva has upped its expectations for 2024 after the second quarter brought a major boost for its worldwide generics business and positive signs for biosimilars in the US.

Teva logo outside building
Teva reported double-digit growth for generics in the second quarter • Source: Shutterstock

In a sign of confidence in its ‘Pivot to Growth’ strategy, Teva has raised its sales and profit guidance for 2024 after the second quarter brought a significant turnover increase for its generics business across all global regions, as well as positive developments for its burgeoning biosimilars business in the US.

“Building on Teva’s strong performance in the first half of 2024 and expected developments in the second half of the year,” the firm now expects total sales of $16.0bn-$16.4bn this year, up from a previous estimate of $15.7bn-$16

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