Teva Pharm profit misses estimates, seeks US tariff details

He said Teva was seeking more details on U.S. President Donald Trump's plan to impose tariffs on generic drug imports in two years, although Teva has a large manufacturing footprint in the United States.

"We've got to seek to understand what is the U.S. administration trying to do. We're a major player in the U.S. healthcare ecosystem, and so we have a good seat at the table," Francis said.

Teva on September 14 will transition from ADS traded on the New York Stock Exchange to ordinary shares.

Its NYSE listed shares were up 8.5% in morning trading.

Israeli drugmaker Teva Pharmaceutical Industries reported on Wednesday a lower-than-expected rise in second-quarter profit, weighed down by a decline in revenue from generic medicines.

• It said it earned 2 cents per diluted share, excluding one-time items, in the April to June quarter, down from 66 cents a share a year earlier.
• Revenue edged down 1% in dollar terms to $4.1 billion, with Teva citing lower generic drug sales, mainly of a generic version of Revlimid.
• Analysts had forecast earnings of 27 cents per share ex-items on revenue of $4.02 billion, LSEG I/B/E/S data showed.
• Teva's results included expenses related to its June purchase of Emalex Biosciences for more than $700 million.

CEO Richard Francis told Reuters he expects the Emalex acquisition to be accretive, but unlikely until at least 2028 — after the likely launch of a Tourette syndrome drug next year.