Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) reported its third quarter results this afternoon. Revenue was $4.8 billion, down 5% compared with the third quarter of 2014, but excluding the impact of foreign exchange fluctuations, revenue grew 3%. Non-GAAP net profit was $1.2 billion, up 1% - $1.35 earnings per share, up 2% from the corresponding quarter. GAAP net profit was $103 million.
Teva beat the analysts who had predicted $4.76 billion revenue and $1.28 earnings per share. In the past four quarters, Teva has exceeded analysts' earnings per share forecasts by an average of 6.3%.
Teva raised its earnings per share guidance for full-year 2015 to $5.40-5.45 from $5.15-5.40.
Copaxone worldwide sales in the third quarter were $1.085 billion, down 2% from $1.107 billion in the corresponding quarter.
Teva CEO and president Erez Vigodman said, "This was a transformative quarter for Teva as we continued to deliver on all financial, operational and strategic promises. We continue to focus efforts on our pending acquisition of Actavis Generics and the acquisition of Rimsa, while continuing to bolster our specialty pipeline, especially our late-stage assets, and further evolving our business model to position Teva for long-term, sustainable growth,”
Vigodman added, “Through all this, we have taken great steps towards changing Teva profoundly, in a way that further highlights what makes us unique in this industry, allows us to better serve patients and enables us to provide significant value for all of our stakeholders. We are pleased to announce we have raised our EPS guidance for full-year 2015 to $5.40-5.45 from $5.15-5.40 further supporting our continued belief in the strength of our business and continued momentum for growth as we look towards 2016.”
Published by Globes [online], Israel business news - www.globes-online.com - on October 29, 2015
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