Teva Pharmaceutical sees weaker than expected 2019, shares tumble
Updated : February 14, 2019 08:03 AM IST
Israel-based Teva, the world's largest generic drugmaker, is counting on its new migraine drug Ajovy and Huntington's treatment Austedo to help revive its fortunes after it was forced to restructure to tackle a debt crisis.
Sales from its blockbuster multiple sclerosis drug Copaxone have been declining due to generic competition, which is also expected to hurt sales of respiratory drug ProAir this year.
Teva shares were down 7.9 percent to $17.62 in New York.
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