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Teva Pharmaceutical Boosts FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, Israeli generic medicines producer Teva Pharmaceutical Industries Ltd. (TEVA) raised its earnings and revenue guidance for the full-year 2019.

For fiscal 2019, the company now projects earnings in a range of $2.30 to $2.50 per share on net revenues between $17.2 billion and $17.4 billion.

Previously, the company expected earnings in a range of $2.20 to $2.50 per share on net revenues between $17.0 billion and $17.4 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.38 per share on revenue of $17.18 billion for the year. Analysts' estimates typically exclude special items.

The company also said it remains on track to achieve its two-year restructuring target of a $3 billion spend base reduction.

Kåre Schultz, Teva's President and CEO, said, "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."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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