An Israel-based drug manufacturer Teva Pharmaceutical Industries Ltd. (TEVA) reported a loss in the second quarter compared to profit in the prior year. It reaffirmed its fiscal year 2022 earnings per share outlook, but cut annual revenues outlook mainly due to continued foreign exchange headwinds. Meanwhile, the company reached a settlement of over $4 billion in a lawsuit for their alleged role in the opioid crisis in the United States.
The company still expects earnings per share to be in the range of $2.40-$2.60 for fiscal year 2022.
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