Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) reported third-quarter earnings that surpassed expectations, boosted by robust sales of its key innovative therapies and an improved full-year outlook. Shares surged more than 17% in intra-day trading on Wednesday.
The company posted adjusted earnings of $0.78 per share, well above analyst forecasts of $0.68. Revenue rose 3% year over year to $4.48 billion, exceeding the $4.36 billion consensus estimate and representing 1% growth in local currency.
Teva’s innovative medicine portfolio—including AUSTEDO, AJOVY, and UZEDY—continued to perform strongly, with segment revenue up 33% year over year in local currency to $830 million. AUSTEDO led growth with $618 million in global sales, a 38% increase in local currency.
Based on the strong momentum, Teva raised its 2025 AUSTEDO revenue forecast by $50 million to $100 million, setting a new target range of $2.05 billion to $2.15 billion. It also tightened its full-year revenue guidance to $16.8 billion–$17.0 billion and lifted the low end of its adjusted EPS range to $2.55–$2.65 from $2.50–$2.65.
The company’s non-GAAP operating margin improved to 28.9%, up 86 basis points from the prior year, keeping it on pace to achieve its 30% target by 2027 under its “Pivot to Growth” strategy.
