The Israeli generic pharmaceuticals company announced its guidance Friday ahead of market's open, and subsequently saw its share prices fall, most recently by 6.7% to over 4% to $35.43.
Teva guided earnings per share of $4.90 to$5.30 for 2017, and revenue of between $23.8 billion and $24.5 billion. Analysts expected earnings per share for the year to be $5.41 and revenue to hit $24.82 billion.
Last year "was a transition year for Teva," Erez Vigodman, the company's CEO and president said about 2016 in a statement. "The entire health care sector has faced significant headwinds, and we have not been immune."
Vigodman noted that in 2017 Teva will focus on "execution," which will include realizing synergies from its acquisition of Actavis Generics, which the company believes could reach $1.4 billion.
Teva could also be falling for a another reason -- a judge's decision in Amgen's (AMGN) - Get Amgen Inc. Report patent lawsuit against Sanofi (SNY) - Get Sanofi Report and Regneron (REGN) - Get Regeneron Pharmaceuticals, Inc. Report .