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Teva Confirms Plans To Hive Off API Unit As 2024 Guidance Is Pushed Up Again

Israeli Firm Swings To Q3 Operating Loss Due To Goodwill Charge, Legal Contingencies

 
• By Dean Rudge

A significant divestment in the works, complex generic launches, a mammoth antitrust fine in Europe – Teva’s Q3 was busy and bustling, led by strong, double-digit top-line growth and a further rise in guidance for 2024.

Man in suit holding wooden blocks spelling 2025, with a bullseye replacing the zero.
• Source: Shutterstock

Teva has confirmed that a planned divestment of the firm’s active pharmaceutical ingredient business, TAPI, is on track for completion in the first half of next year, as the Israeli company marked its seventh consecutive quarter of growth – albeit, swinging by hundreds of millions of dollars to an operating loss in the third quarter on the back of writing off a further $600m of goodwill related to TAPI.

At the beginning of this year, Teva put the increasingly independent TAPI up for sale, but underlined that it could offer no assurances on the timing or structure of...

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