Acuity Brands, Inc. (NYSE: AYI) posted fourth-quarter fiscal 2023 earnings of $3.97 per share, surpassing the consensus EPS estimate of $3.72. Quarterly sales for the company totaled $1.01 billion, slightly below analysts' revenue projections of $1.02 billion.

In pre-market trading, $AYI is holding steady at $167.38.

In other news, Sanofi (Nasdaq: SNY) and Teva Pharmaceuticals, a subsidiary of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), are teaming up to co-develop and co-commercialize anti-TL1A therapy TEV’574, a drug in Phase 2b trials for treating Ulcerative Colitis and Crohn's Disease. 

As part of the deal, Teva will get an upfront payment of €469 million ($500 million) plus up to €940 million ($1 billion) in milestones. Development costs and profits will be shared equally in major markets. Sanofi leads Phase 3 development, while Teva handles commercialization in Europe and specified areas, with Sanofi managing North America, Japan, and more. The partnership is pending customary closing conditions, with initial results expected in 2024.

In pre-market, $TEVA was trading at $9.64, up $0.04 (0.42%).

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