On Friday, shares of Teva Pharmaceuticals Industries (TEVA Quick QuoteTEVA - Free Report) are plunging, down almost 7.7% in late-afternoon trading after the company announced weaker-than-expected 2017 guidance.

The Israel-based company now expects earnings per share in the range of $4.90 and $5.30 for fiscal 2017, missing estimates of $5.41 per share. Teva expects revenues to come in between $23.8 billion and $24.5 billion for the year, also mission estimates of $24.8 billion.

Last year “was a transition year for Teva," said CEO and president Erez Vigodman in a statement. “The entire health care sector has faced significant headwinds, and we have not been immune.”

TEVA had a rough 2016, losing over 42% over the last one year. The company is currently a Zacks Rank #4 (Sell).

Teva specializes in developing, manufacturing, and marketing generic pharmaceuticals. Key therapeutic focus areas include: analgesic, anti-infective, cardiovascular, CNS, dermatological, and anti-inflammatory.

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