TEL AVIV, Aug 7 (Reuters) - Israel-based Teva Pharmaceutical Industries reported a smaller-than-expected drop in second-quarter profit on Wednesday and reaffirmed its full year outlook.
The world’s largest generic drugmaker earned 60 cents per diluted share excluding one-time items in the April-June period, down from 78 cents a year earlier. Revenue fell 8% to $4.34 billion.
Analysts had forecast Teva would earn 57 cents a share ex-items on revenue of $4.25 billion, according to I/B/E/S data from Refinitiv.
For 2019 it reaffirmed its forecast of adjusted EPS of $2.20-$2.50 and revenue of $17.0-$17.4 billion. Analysts are forecasting EPS of $2.37 on revenue of $17.14 billion. (Reporting by Tova Cohen Editing by Steven Scheer)