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Teva Pharmaceutical Raises FY18 Adj. Earnings Outlook - Quick Facts

While reporting its third-quarter financial results on Thursday, Teva Pharmaceutical Industries Ltd. (TEVA) raised its outlook for fiscal 2018 adjusted earnings to a range of $2.80 to $2.95 per share from the prior range of $2.55 to $2.80 per share.

In addition, the company raised the lower end of its full-year revenue outlook. The company now projects revenue in a range of $18.6 billion to $19.0 billion, compared to the prior range of $18.5 billion to $19.0 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.78 per share for the year on revenues of $18.86 billion. Analysts' estimates typically exclude special items.

Teva also said its restructuring plan has already resulted in a significant cost reduction of $1.8 billion in the first nine months of the year and it is on track to achieve a reduction of $3.0 billion by the end of 2019, while continuing to pay down its debt.

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