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Teva Lowers Forecast As Q3 Revenues Decline Amid Growing Generic Competition

But Opioid Crisis Settlement On Track

 
• By Ayisha Sharma

The Israeli firm’s third-quarter revenues and profits decreased as its product sales dipped due to alternative options and generic competition leading it to lower its full-year guidance, but its opioid crisis financial settlement remains on track.  

A sad piggy bank behind stack of euro coins symbolizing the fall of monetary assets.
Teva's Profits Have Dipped Despite Lower R&D Spend • Source: Shutterstock

Teva Pharmaceutical Industries Ltd. had an uninspiring third quarter with drops across total revenue and individual product franchises but the firm is now closer to finalizing a settlement for the opioid crisis litigation that has hung over it for years, with a $523m payment to New York state.

Revenues for the quarter dipped by 8% at constant exchange rates (CER) to $3

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