Why Teva Pharmaceutical Stock Is Sinking Today
Shares of Teva Pharmaceutical Industries (NYSE: TEVA) were slipping Wednesday. The company's stock lost 13.5% as of 1:15 p.m. ET. The leg down comes as the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 0.5% and 0.9%, respectively.
Teva reported earnings before trading began on Wednesday. The positive growth wasn't enough to outweigh guidance for 2025, which disappointed investors.
The pharma giant reported sales of $4.2 billion for Q4 and $16.5 billion for fiscal year 2024, up from 2023's revenue of $15.9 billion. The numbers slightly exceeded expectations, driven by better-than-expected sales of its lineup of drugs targeting migraines, Huntington's disease, and schizophrenia.
Source Fool.com
