Teva down after predicting a 'trough' year ahead

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA; Tel Aviv:TEVA) lost $1.49 to $17.63 on NYSE Wednesday when the company reported a decrease in 4Q18 generics sales and introduced 2019 guidance that was lower than the Street had expected. The company lost NIS5.35 to NIS64.24 in Israel.

On a conference call Wednesday, President and CEO Kåre Schultz said 2019 will be a "trough" year as Teva faces increasing generic erosion to sales of its multiple sclerosis drug Copaxone glatiramer acetate and asthma therapy ProAir HFA albuterol, as well as a decline in sales from its generics business. The company guided to a 2019 EPS of $2.20-$2.50 on revenues of $17-$17.4 billion; the Street was expecting EPS of $2.82 on $17.89 billion in revenues...