Teva Pharm first-quarter profit rise tops estimates

The logo of Teva Pharmaceutical Industries is displayed at the company headquarters in Tel Aviv, Israel, February 20, 2024. REUTERS/Dylan Martinez/ File Photo Purchase Licensing Rights , opens new tab
Companies
Teva Pharmaceutical Industries Ltd
Follow
JERUSALEM, May 7 (Reuters) - Teva Pharmaceutical Industries (TEVA.TA)
, opens new tab reported a slightly larger than expected rise in first-quarter profit, helped by strong sales gains in a trio of its branded drugs to treat migraines, Huntington's disease and schizophrenia.
The world's largest generic drugmaker said on Wednesday it earned 52 cents per diluted share, excluding one-time items, in the January-March quarter, up from 48 cents a share a year earlier. Revenue rose 2% to $3.89 billion.
Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.
Advertisement · Scroll to continue
Analysts had forecast earnings of 46 cents per share ex-items for the Israel-based company on revenue of $3.99 billion, LSEG I/B/E/S data showed.
Teva said that confirmed U.S. tariffs were expected to have an immaterial financial impact.
Reporting by Steven Scheer, Editing by Louise Heavens
Our Standards: The Thomson Reuters Trust Principles. , opens new tab
Share X
Facebook
Linkedin
Email
Link
Purchase Licensing Rights

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Reuters

38 minutes ago

• Reuters

Iran oil doomsday in Hormuz may be more fear than reality: Bousso

LONDON, June 22 - U.S. strikes on several Iranian nuclear sites represent a meaningful escalation of the Middle East conflict that could lead Tehran to disrupt vital exports of oil and gas from the region, sparking a surge in energy prices. But history tells us that any disruption would likely be short-lived. Investors and energy markets have been on high alert since Israel launched a wave of surprise airstrikes across Iran on June 13, fearing disruption to oil and gas flows out of the Middle East, particularly through the Strait of Hormuz, opens new tab, a chokepoint between Iran and Oman through which around 20% of global oil and gas demand flows. Benchmark Brent crude prices have risen by 10% to over $77 a barrel since June 13. While Israel and Iran have targeted elements of each other's energy infrastructure, there has been no significant disruption to maritime activity in the region so far. But President Donald Trump's decision to join Israel by bombing three of Iran's main nuclear sites in the early hours of Sunday could alter Tehran's calculus. Iran, left with few cards to play, could retaliate by hitting U.S. targets across the region and disrupting oil flows. While such a move would almost certainly lead to a sharp spike in global energy prices, history and current market dynamics suggest any move would likely be less damaging than investors may fear. The first question to ask is whether Iran is actually capable of seriously disrupting or blocking the Strait of Hormuz. The answer is probably yes. Iran could attempt to lay mines across the Strait, which is 55 km (34 miles) wide at its narrowest point. The country's army or the paramilitary Islamic Revolutionary Guard Corps (IRGC) could also try to strike or seize vessels in the Gulf, a method they have used on several occasions in recent years. Moreover, while Hormuz has never been fully blocked, it has been disrupted several times. During the 1980s Iran-Iraq war, the two sides engaged in the so-called "Tanker Wars" in the Gulf. Iraq targeted Iranian ships, and Iran attacked commercial ships, including Saudi and Kuwaiti oil tankers and even U.S. navy ships. Following appeals from Kuwait, then-U.S. President Ronald Reagan deployed the navy between 1987 and 1988 to protect convoys of oil tankers in what was known as Operation Earnest Will. It concluded shortly after a U.S. navy ship shot down Air Iran flight 655, killing all of its 290 passengers on board. Tensions in the strait flared up again at the end of 2007 in a series of skirmishes between the Iranian and U.S. navies. This included one incident where Iranian speedboats approached U.S. warships, though no shots were fired. In April 2023, Iranian troops seized the Advantage Sweet crude tanker, which was chartered by Chevron, in the Gulf of Oman. The vessel was released more than a year later. Iranian disruption of maritime traffic through the Gulf is therefore certainly not unprecedented, but any attempt would likely be met by a rapid, forceful response from the U.S. navy, limiting the likelihood of a persistent supply shock. Indeed, history has shown that severe disruptions to global oil supplies have tended to be short-lived. Iraq's invasion of neighbouring Kuwait in August 1991 caused the price of Brent crude to double to $40 a barrel by mid-October. Prices returned to the pre-invasion level by January 1992 when a U.S.-led coalition started Operation Desert Storm, which led to the liberation of Kuwait the following month. The start of the second Gulf war between March and May 2003 was even less impactful. A 46% rally in the lead-up to the war between November 2002 and March 2003 was quickly reversed in the days preceding the start of the U.S.-led military campaign. Similarly, Russia's invasion of Ukraine in February 2022 sparked a sharp rally in oil prices to $130 a barrel, but prices returned to their pre-invasion levels of $95 by mid-August. These relatively quick reversals of oil price spikes were largely thanks to the ample spare production capacity available at the time and the fact that the rapid oil price increase curbed demand, says Tamas Varga, an analyst at oil brokerage PVM. Global oil markets were also rocked during the 1973 Arab oil embargo and after the 1979 revolution in Iran, when strikes on the country's oilfields severely disrupted production. But those did not involve the blocking of Hormuz and were not met with a direct U.S. military response. The current global oil market certainly has spare capacity. OPEC+, an alliance of producing nations, today holds around 5.7 million barrels per day in excess capacity, of which Saudi Arabia and the United Arab Emirates hold 4.2 million bpd. The concern today is that the vast majority of the oil from Saudi Arabia and the UAE is shipped via the Strait of Hormuz. The two Gulf powers could bypass the strait by oil pipelines, however. Saudi Arabia, the world's top oil exporter, producing around 9 million bpd, has a crude pipeline that runs from the Abqaiq oilfield on the Gulf coast in the east to the Red Sea port city of Yanbu in the west. The pipeline has capacity of 5 million bpd and was able to temporarily expand its capacity by another 2 million bpd in 2019. The UAE, which produced 3.3 million bpd of crude oil in April, has a 1.5 million bpd pipeline linking its onshore oilfields to the Fujairah oil terminal that is east of the Strait of Hormuz. But this western route could be exposed to attacks from the Iran-backed Houthis in Yemen, who have severely disrupted shipping through the Suez Canal in recent years. Additionally, Iraq, Kuwait and Qatar currently have no clear alternatives to the strait. It is possible that Iran will choose not to take the dramatic step of blocking the strait in part because doing so would disrupt its own oil exports. Tehran may also consider any further escalation fruitless in light of U.S. involvement and will instead try to downplay the importance of the U.S. strikes and come back to nuclear negotiations. In the meantime, spooked energy markets, fearing further escalation, are apt to respond to the U.S. strikes with a sharp jump in crude prices. But even in a doomsday scenario where the Strait of Hormuz is blocked, history suggests markets should not expect any supply shock to be persistent. Enjoying this column? Check out Reuters Open Interest (ROI),, opens new tab your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis. Markets are moving faster than ever. ROI, opens new tab can help you keep up. Follow ROI on LinkedIn, opens new tab and X., opens new tab

The Independent

an hour ago

• The Independent

Flights from London to Doha and Dubai cancelled after US strikes Iran

Flights from London to Dubai and Doha have been cancelled after Donald Trump ordered a US attack on Iran's nuclear sites. It comes after a British Airways (BA) flight from London Heathrow to Dubai was diverted to Zurich on Saturday night. The BA109 flight departed from the UK at 9.53pm on Saturday and reached Saudi Arabia before the Boeing 787 Dreamliner changed its course, landing in Switzerland, according to flight-tracking website Flightradar24. All of the airline's flights to Dubai and Doha that were scheduled to depart from Heathrow on Sunday have been cancelled, including return flights, the company said. Israel announced on Sunday that it had closed its airspace to both inbound and outbound flights in the wake of the US attacks. The US struck three nuclear test sites in Iran overnight prompting Tehran to launch a retaliatory ballistic missile barrage against Israel. In a statement, British Airways said: 'As a result of recent events, we have adjusted our flight schedule to ensure the safety of our customers and crew, which is always our top priority. 'We are contacting our customers to advise them of their options while we work through this developing situation.' BA is offering a flexible booking policy for customers already booked onto flights to Dubai and Doha between Sunday and Tuesday who wish to change their dates of travel.

Scottish Sun

2 hours ago

• Scottish Sun

Gang thugs torch scaffolding firm with links to caged kingpin Mark Richardson in latest firebomb attack

The business is said to be owned by a relative of one of the dealers blamed for using fake notes in a £500,000 cocaine deal 'WAR WON'T STOP' Gang thugs torch scaffolding firm with links to caged kingpin Mark Richardson in latest firebomb attack Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A SCAFFOLDING firm has been torched in the latest sinister firebomb attack linked to Scotland's raging gang war. RTR in Loanhead, near Edinburgh, was set alight by marauding maniacs in another late night blitz as the months-long chaos shows no sign of stopping. 4 A scaffolding firm was firebombed in another attack linked to Scotland's raging gang war Credit: The Scottish Sun 4 Forensics at the scene in Loanhead, Edinburgh Credit: The Scottish Sun 4 The business is said to be owned by a relative of one of the dealers McGill blames for using fake notes in a £500,000 cocaine deal Credit: The Scottish Sun 4 It is the latest in a series of attacks in the months-long feud Credit: The Scottish Sun Sources say the blaze is the latest assault by thugs working for Dubai-based hood Ross 'Miami' McGill who launched a revenge campaign on rivals over claims of a drug deal gone wrong. The business is said to be owned by a relative of one of the dealers McGill blames for using fake notes in a £500,000 cocaine deal. It sparked a wave of attacks on associates of caged Edinburgh kingpin Mark Richardson and the notorious Daniel clan in Glasgow. It's also claimed the latest target is a pal of a hood who was slashed in Thailand over his alleged involvement in the rip off. A source said: 'This war isn't going to stop. The business is connected to one of the guys McGill blames for ripping him off. 'He is an associate of the guy who got attacked in Thailand and they are both being blamed for the fake notes scam that kicked off this whole war. 'Lots of innocent people's lives are being affected by this madness. "It's being going on for months and who knows what will happen next.' Earlier today cops were standing guard at the site and a forensic officer was seen taking pictures of the scene. A charred container could be seen from the street. Spanish cops insist hitman who executed Ross Monaghan & Eddie Lyons Jr killer WAS member of rival Daniel clan Detectives were also spotted at the industrial estate carrying out their investigation. It's understood the company employs many local people who will now be worried about their jobs. One nearby neighbour told how 'billowing smoke' could be seen out across the small town. The man, who declined to be named, said: 'I was heading home after a night out and I could smell the smoke in the taxi. 'As we got closer you could see billowing smoke right across the area. 'We arrived in town and the police were diverting traffic away from the street. 'When I got home I could smell the smoke in my home. 'RTR employs lots of local people so I hate to think what that means for these guys' jobs.' The attack comes days after we told of a video threat by a group known as Tamo Junto who are said to be acting for McGill who is calling the shots from his desert bolthole. A Police Scotland spokesperson said: 'Police received a report of a fire at a premises on Engine Road in Loanhead around 11.50pm on Saturday, 21 June, 2025. 'Emergency services attended and the fire was extinguished by Scottish Fire and Rescue Service. No-one was injured. 'The fire is being treated as wilful and enquiries are ongoing.'