Teva Pharmaceutical Issues 2017 Guidance That Is Below Expectations

Shares of Teva Pharmaceutical Industries fell more than 5% in premarket trade on Friday after the company issued 2017 guidance that is below Wall Street expectations. Teva forecasts per-share earnings to range from $4.90 to $5.30. Analysts surveyed by FactSet expect EPS of $5.40. Revenue for 2017 is expected to be in the range of $23.8 billion to $24.5 billion, Teva said, while analysts surveyed by FactSet expect revenue to hit $24.8 billion for the year. Teva said compared to 2016, currency fluctuations are expected to reduce revenue by $800 million. Shares of Teva are down more than 41% over the last 12 months, underperforming the S&P 500 Index , which is up 14%.