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

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...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Generics Bulletin for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Earnings

Cipla CEO On Tariff Threat: ‘We Have One Of The Most Well Diversified Models’

 

Cipla's leadership fields shareholder queries on the specter of US tariffs and also outlines how the firm is nurturing the business for the future in areas like mRNA and point-of-care diagnostics, while building on its strength in the respiratory space.

Krka Passes €1bn Threshold In Just Six Months

 
• By 

Krka has reported its strongest-ever half-year results, surpassing €1bn in sales and growing EBITDA by 8%. Solid performance across most regions, particularly Eastern and Central Europe, supported stable margins and a positive full-year outlook.

Stelara Biosimilar Sees Stada’s Specialty Sales Start Strong In Q1

 
• By 

Stada’s Specialty division was boosted by the firm’s launch last year of a European Stelara biosimilar, even as generics growth remained muted in Q1.

Glenmark Adamant FDA Monroe Site Reinspection Could Happen ‘Any Time’

 
• By 

A weak second half in Glenmark’s India business during the firm’s 2025 financial year took the gloss off its earnings somewhat for the year. However, Glenmark is plotting several avenues to return to growth, in both of its core business regions: India and the US.

More from Generics Bulletin

Adalvo Changes Hands As EQT Takes Control

 
• By 

Private equity firm EQT is taking control of Alvo group B2B business Adalvo, after striking a deal to acquire a majority stake from Aztiq, the investment vehicle of founder Róbert Wessman.

FTC’s Latest Effort To Dispute Improper Patent Listings Barely Made A Dent

 

Trump’s FTC has carried on two legacies – trying to eliminate improper drug patent listings and making minimal impact on such efforts.

Amphastar Unveils Plans To Quadruple US Manufacturing

 
• By 

Amphastar has announced plans to quadruple its domestic production capacity over the next three to five years. The move plays into a growing trend towards US manufacturing localization, against the backdrop of potential pharmaceutical tariffs being mooted by the Trump administration.