TEL AVIV, Aug 2 (Reuters) - Israel’s heavily indebted Teva Pharmaceutical Industries reported a smaller than-expected drop in second-quarter profit on Thursday and raised its profit outlook for the full year.
The world’s largest generic drugmaker earned 78 cents per share excluding one-time items in the April-June period, down from $1.02 a year earlier. Revenue fell 18 percent to $4.7 billion.
Analysts had forecast Teva would earn 64 cents a share ex-items on revenue of $4.74 billion, according to Thomson Reuters I/B/E/S.
For the full year it raised its forecast for adjusted EPS to $2.55-$2.80 from $2.40-$2.65 estimated last quarter. (Reporting by Tova Cohen, Editing by Ari Rabinovitch)