Teva Pharmaceutical reported Q2 2024 revenues of $4.16 billion, up 7% year-over-year, driven by higher generic product sales across all segments and strong AUSTEDO growth. AUSTEDO revenues surged 32% to $407 million while generic product revenues in the US increased 16% to $1.02 billion. Gross profit margin improved to 48.6% from 46.3% last year.The company recorded a net loss of $846 million, impacted by a $400 million goodwill impairment charge related to its API business unit and $630 million in tax expenses following a settlement with Israeli tax authorities. Operating loss narrowed to $5 million from $654 million last year, as legal settlement expenses decreased significantly to $83 million from $462 million.Looking ahead, Teva continues executing its Pivot to Growth strategy focused on innovative medicines and biosimilars while sustaining its generics business. The company generated free cash flow of $324 million and maintained $2.26 billion in cash. Management expects to complete the planned divestiture of its API business in the first half of 2025 as part of its strategic transformation.

Teva Pharmaceutical reported Q2 2024 revenues of $4.16 billion, up 7% year-over-year, driven by higher generic product sales across all segments and strong AUSTEDO growth. AUSTEDO revenues surged 32% to $407 million while generic product revenues in the US increased 16% to $1.02 billion. Gross profit margin improved to 48.6% from 46.3% last year.The company recorded a net loss of $846 million, impacted by a $400 million goodwill impairment charge related to its API business unit and $630 million in tax expenses following a settlement with Israeli tax authorities. Operating loss narrowed to $5 million from $654 million last year, as legal settlement expenses decreased significantly to $83 million from $462 million.Looking ahead, Teva continues executing its Pivot to Growth strategy focused on innovative medicines and biosimilars while sustaining its generics business. The company generated free cash flow of $324 million and maintained $2.26 billion in cash. Management expects to complete the planned divestiture of its API business in the first half of 2025 as part of its strategic transformation.