Israel-based Teva Pharmaceutical Industries Ltd. (TEVA – Free Report) is a global pharmaceutical company with a strong presence in the generics as well as branded markets. The company’s branded products include Copaxone (multiple sclerosis), Azilect (Parkinson’s disease) and respiratory products like ProAir and Qvar.Moreover, the company has several candidates in its pipeline, which are in different stages of development mainly for the treatment of pain and asthma.

In early Aug 2016, Teva acquired Allergan’s generics business – Actavis Generics and in Oct 2016 it acquired the latter’s Anda Inc., the 4th largest distributor of generic pharmaceuticals in the U.S.

Teva is facing significant challenges in the form of accelerated generic competition for Copaxone, new competition for branded products, pricing erosion in the U.S. generics business, lower-than-expected contribution from new generic launches and a massive debt load.

Teva’s earnings surpassed expectations in only one of the last four quarters, met the same in one and missed expectations in the remaining two, resulting in an average positive surprise of 0.49%.

Currently, TEVA has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings Beat: Teva’s first-quarter earnings came in at 94 cents per share, which massively beat consensus estimate of 68 cents.

Revenues Beat: Teva posted revenues of $5.1 billion, which beat consensus estimates of $4.8 million. However, sales declined 10% year over year.

Key Statistics: As announced in November last year, Teva no longer reports two separate global groups for its two businesses – generics and specialty medicines. Instead, Teva now reports under new segments based on three regions —North America, Europe and Growth Markets.