Teva Reports Q3 EPS 58c, Consensus 59c

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Reports Q3 revenue $4.26B, consensus $4.23B. The company said, "During the third quarter, we continued to make significant progress in achieving our 2019 goals. Free cash flow was especially strong in the quarter, totaling $550 million.

Our North American generics business continued its steady trend, achieving sales of $914 million, supported by 39 new product launches in the first nine months of 2019, including generic EpiPen Jr. Among our branded products, AUSTEDO continues to demonstrate consistent growth, and AJOVY maintained its U.S. market share and is being introduced in the EU. We remain on track to achieve our two-year restructuring target of a $3 billion spend base reduction.

Looking ahead, we are committed to driving long-term shareholder value by maximizing profits from existing core businesses, increasing sales of new brands and products, executing our biosimilar/biologics strategy, delivering manufacturing efficiencies, and generating strong free cash flow for debt repayment."

Disclosure: None.

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