Teva Pharmaceutical’s (TEVA) net income and diluted EPS in the first nine months of 2018 amounted to $541.0 million and $0.53, respectively, compared to -$4.9 billion and -$4.85, respectively, in the same period last year.
After the third quarter, Teva Pharmaceutical raised its 2018 non-generally accepted accounting principles EPS guidance from $2.55–$2.80 to $2.80–$2.95.
Analysts expect Teva Pharmaceutical to report net income and diluted EPS of $1.3 billion and $0.70, respectively, in 2018.
In the third quarter, Teva Pharmaceutical’s generic pharmaceutical peers Allergan (AGN), Mylan (MYL), and Bausch Health (BHC) reported net incomes of -$37.9 million, $176.7 million, and -$350.0 million, respectively, compared to -$4.0 billion, $88.3 million, and $1.3 billion, respectively, in the same period of the previous year.
In December, Teva Pharmaceutical announced the results of its Phase 3b FOCUS trial. The company conducted the trial to evaluate the safety and efficacy of fremanezumab for the preventive treatment of adult individuals with migraines who hadn’t adequately responded to the previous two to four classes of preventive therapies.
In the Phase 3b FOCUS trial, individuals taking fremanezumab showed a significant decline in average monthly migraine days compared to those taking the placebo. The company expects to present detailed overall results of the trial during medical meetings in 2019.
In December, the FDA approved Celltrion and Teva Pharmaceutical’s Herzuma, a biosimilar to Roche Holding’s (RHHBY) Herceptin.
In November, the FDA also approved Teva Pharmaceutical’s Truxima, a biosimilar to Roche’s Rituxan, for the treatment of three different non-Hodgkin’s lymphoma indications.
The approval of the biosimilars is expected to strengthen Teva Pharmaceutical’s product portfolio and in turn boost the company’s revenue growth.