Teva’s Rosy View For A Happy Union With Allergan Generics
The company provided updated mid-term guidance for the combined company, net revenues of $26.7bn to $27.8bn and EBITDA of $10.7bn to $11.5bn in 2019. The deal is expected to close any day, management assured investors.
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Earnings announcements from Teva and clinical trial results from Biogen, Ionis and Sage have turned out to have quite different interpretations in retrospect. Exciting news can sometimes look more like a vehicle for strategically timed stock promotion than a genuine material event.
Teva will move forward an internal generic Advair candidate and one acquired from Allergan to improve its chances of getting an interchangeable version of the market-leading asthma drug approved by FDA.
Teva said the deal will close the first week of August, after agreeing to sell assets related to 79 pharmaceutical products to gain FTC clearance.