A Trough Year For Teva, With A Turning Point Targeted For 2020
As the company's turnaround plan matures, 2019 will remain a year of cost-cutting and focus as it looks to pay down debt and stabilize its financials. "We'll be focused on optimizing our own business rather than adding new businesses," CEO Schultz said.
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Teva's turnaround is progressing, but the company forecast largely flat revenues and earnings in 2020. A threat to the improved stability is how an opioid litigation settlement might unfold.
Teva's business appears to be stabilizing but the company needs to resolve outstanding opioid liability litigation. CEO Schultz said he is hopeful a national settlement framework will be finalized.
Novartis's Sandoz unit is the first of the big generics players to report second quarter financials, and its outlook for the US market remains pessimistic.