Teva Pharmaceutical has reported a net loss of $217m, or 0.19 per diluted share, for the fourth quarter (Q4) of 2024, compared to a net income of $461m, or 0.41 per diluted share, for the respective quarter in 2023.
The Israeli drugmaker reported a net loss of $437m for the third quarter of 2024 (Q3 2024).
Teva reported net revenues of $4.22bn for Q4 2024, a 5% decline compared to $4.45bn for the same quarter in 2023, and a 2.5% decrease compared to $4.33bn for Q3 2024.
The pharmaceutical company reported a loss before tax of $247m for Q4 2024, compared to a profit before tax of $507m for the same quarter in the previous year.
Teva president and CEO Richard Francis said: “2024 marked a transformative year for Teva, resulting in a second consecutive year of growth, driven by our generic products and key innovative products.
“Focusing on rigorous execution of our Pivot to Growth strategy throughout the year, we continued to achieve important milestones in each of its four pillars, including surpassing the outlook for our key innovative products.
“These results pave the way for pivotal trials in Crohn’s disease and ulcerative colitis, as well as, potentially, other Immunological and fibrotic indications beyond, in collaboration with our partner, Sanofi.”
Teva has reported a net loss of $1.63bn, or 1.45 per diluted share, for the full year 2024, compared to a net loss of $559m, or 0.50 per diluted share, for the full year 2023 (FY 2023).
The Israeli drugmaker reported net revenues of $16.54bn for the full year 2024, a 4% rise compared to $15.84bn for the full year 2023.
The pharmaceutical company reported a net loss before tax of $1.28bn for the full year 2024, compared to a net loss before tax of $624m for the full year 2023.
In December last year, Teva agreed to sell its stake of 51% in its Japanese unit, the Teva Takeda Pharma business, to JKI, a fund managed by J-Will Partners.
