Teva Pharmaceutical Indus (TEVA) reported fourth-quarter earnings of 64 cents per share, which beat the analyst consensus estimate of 61 cents by 4.92%. This is a 20.75% increase over earnings of 53 cents per share from the same period last year.

The company reported quarterly sales of $4.5 billion, which beat the analyst consensus estimate of $4.35 billion by 3.45%. This is a 1.29% decrease over sales of $4.559 billion the same period last year.

Teva sees fiscal year 2020 adjusted EPS $2.30-$2.55 versus the $2.47 estimate and sales at $16.6-$17 billion versus the $17.18 billion estimate.

"In 2019, we made great strides towards positioning Teva for renewed growth by completing our two-year restructuring plan, reducing our cost base by more than $3 billion, and reducing our net debt by more than $9 billion, all while maintaining our global leadership in generics, serving around 200 million patients every day," said CEO Kåre Schultz.

Teva shares were trading up 3% at $12.72 in Wednesday’s pre-market session. The stock has a 52-week high of $19.21 and a 52-week low of $6.07.