仿制药Revlimid逐渐消失，但Teva更广泛的仿制药前景仍然强劲

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) will release its second-quarter 2025 financial results tomorrow, July 30.

According to Benzinga Pro, the company expects to report second-quarter earnings of 62 cents, with sales of around $4.29 billion.

Teva’s generics business has rebounded. The company saw a 5% increase in revenue across regions. Its top-three global portfolio may yield five new product launches by 2027.

Also Read: Goldman Sachs Bullish On Branded Drug Upside At Teva: What About Viatris?

According to Piper Sandler, generic Revlimid won't matter much to the business after this year due to rising competition. However, it still plays a vital role in the U.S. generics segment.

The company's management expects the first quarter of 2025 to show the strongest year-over-year growth for its generics business.

They also noted that they usually sell most of their allowed amount of generic Revlimid in the second and third quarters.

Piper maintains an Overweight rating, increasing the price forecast from $29 to $30.

Additionally, settlements with other generic drugmakers will allow more competitors, including new ones, to enter the market and sell larger volumes in 2025.

Analyst David Amsellem questions whether total revenue for 2025 could be near the lower end of management's guidance range of $16.8 billion-$17.2 billion.

The analyst writes that since there is a possibility, Teva should not be penalized.

Austedo continues to grow steadily, with prescription volumes up approximately 19% year-to-date.

Uzedy is performing better than expected, with prescriptions increasing by about 21% in the second quarter of 2025 and 17% in the first quarter of 2025.

Piper Sandler considers 2025 to be a low point for EBITDA, as cost-saving measures and efficiency improvements are expected to start benefiting profits in 2026.

Teva's branded drug business will also become more influential. A long-acting injectable version of olanzapine is launching in late 2026. It expects duvakitug by the end of the decade. And a $5 billion innovative medicines franchise should be up and running by 2030.

Additionally, Teva won't face major loss of exclusivity (LOE) issues until well into the 2030s. This supports the case for a higher valuation multiple.

Price Action: TEVA stock is down 0.09% at $16.50 at the last check on Tuesday.

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