What happened After the company provided investors with yet another disappointing update to its financial performance, shares in Teva Pharmaceutical (NYSE: TEVA) are losing 15% as of 1 p.m. EDT. So what It's been tough going in 2017 for the world's biggest generic drugmaker, and unfortunately, investors hoping that the worst was behind the company earlier this year may have to settle in and expect some more rockiness. IMAGE SOURCE: GETTY IMAGES. Teva Pharmaceutical's third-quarter performance continued to be hamstrung by ongoing generic drug pricing weakness. The company's also seeing sales in its specialty pharmaceuticals unit slip as demand for its multibillion-dollar multiple sclerosis drug, Copaxone, shifts to biosimilar alternatives. Overall, Teva Pharmaceutical's third-quarter sales fell 1% to $5.6 billion when compared to the same time last year. As a result, non-GAAP (generally accepted accounting principles) profit tumbled 23.7% to $1 per share in the period. Generic medicine sales slipped 7.7% to $3 billion, and a 7% drop in Copaxone sales resulted in specialty medicine sales slipping 0.7% to $2 billion. Now what Fellow Motley Fool Sean Williams did a nice job outlining the bull thesis for Teva Pharmaceutical recently, and certainly, long-term investors should be encouraged by Teva Pharmaceutical's bargain-basement valuation and long-term tailwinds associated with a bigger and older global population. In the intermediate term, however, the company's still got a lot of obstacles to overcome. It cut its dividend by 75% after the second quarter to free up cash to pay down debt. It also sold some assets for nearly $2.5 billion. Yet, debt remains north of $35 billion, and as a result, its financial expenses, including interest expense, foreign exchange losses, and derivatives losses, were $259 million in the quarter, up from $150 million one year ago. Cash flow is still positive, but investors will need to closely watch to see what happens in the coming quarters following the FDA approval of Mylan's (NASDAQ: MYL) 40 mg Copaxone in October. A 20 mg Copaxone has been available for a while, but Teva's been able to keep Copaxone market share by shifting patients to its longer-lasting 40 mg version. That could change now that there's a 40 mg alternative. As for guidance, Teva Pharmaceutical appears to be baking in the 40 mg Copaxone risk. It's taken its revenue outlook down to at least $22.2 billion from at least $22.8 billion and its non-GAAP earnings-per-share (EPS) forecast down to at least $3.77 from its prior outlook for at least $4.30 per share. 10 stocks we like better than Teva Pharmaceutical IndustriesWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Teva Pharmaceutical Industries wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks! *Stock Advisor returns as of October 9, 2017 Todd Campbell owns shares of Mylan. His clients may have positions in the companies mentioned. The Motley Fool recommends Mylan. The Motley Fool has a disclosure policy.