Teva Reports Preliminary Second Quarter 2015 Results
27 Juillet 2015 - 10:47AM
Business Wire
$4.97 Billion in Revenue and $1.43 in Non-GAAP
EPS
Raises 2015 EPS Guidance
Teva Pharmaceutical Industries Ltd. (NYSE and TASE:TEVA) today
announced preliminary financial results for the second quarter of
2015:
- Revenues of approximately $4.97
billion, down 2% compared to the second quarter of 2014. Excluding
the impact of foreign exchange fluctuations and the sale of U.S.
OTC plants in July 2014, revenues increased 6% compared to the
second quarter of 2014.
- Non-GAAP diluted earnings per share
(EPS) of $1.43 in the second quarter of 2015, up 15% compared to
the second quarter of 2014.
- Non-GAAP operating income of $1.6
billion, an increase of 16% compared to the second quarter of
2014.
- Cash flow from operations of $1.5
billion, an increase of 41% compared to the second quarter of
2014.
- Free cash flow of $1.3 billion, up 51%
compared to the second quarter of 2014.
Erez Vigodman, President and CEO of Teva, said, “Our preliminary
results for the second quarter further demonstrate Teva’s
continuous momentum and significantly strengthened fundamentals,
improved generics and specialty businesses and ability to drive
organic growth. We are confident that our key franchises, along
with our transformational acquisition of Allergan Generics, will
enable Teva to reinforce our already strong position and continue
to generate stockholder value.”
Full Year 2015 EPS Guidance
Teva is raising its EPS guidance for the full year 2015,
reflecting the positive momentum across the business. For the full
year 2015, the Company now expects EPS to be in the range of $5.15
to $5.40, as compared to the previously provided EPS range of $5.05
to $5.35.
Teva Second Quarter 2015 Earnings Conference Call
Teva will report full second quarter 2015 financial results on
Thursday, July 30, 2015. The Company will discuss its results on
its quarterly earnings conference call and live webcast on the same
day, at 8:00 a.m. ET.
In order to participate, please dial the following numbers (at
least 10 minutes before the scheduled start time): United States
1-866-966-9439; Canada 1-866-966-0399 International +44(0) 1452
555566; passcode: 76780072. For a list of other international
toll-free numbers, click here.
A live webcast of the call will also be available on Teva's
website at: www.tevapharm.com. Please log in at least 10 minutes
prior to the conference call in order to download the applicable
audio software.
Following the conclusion of the call, a replay of the webcast
will be available within 24 hours on the Company's website. The
replay can also be accessed until August 30, 2015, 10:00 a.m. ET by
calling United States 1-866-247-4222; Canada 1-866-878-9237 or
International +44(0) 1452550000; passcode: 76780072.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a
leading global pharmaceutical company that delivers high-quality,
patient-centric healthcare solutions to millions of patients every
day. Headquartered in Israel, Teva is the world’s largest generic
medicines producer, leveraging its portfolio of more than 1,000
molecules to produce a wide range of generic products in nearly
every therapeutic area. In specialty medicines, Teva has a
world-leading position in innovative treatments for disorders of
the central nervous system, including pain, as well as a strong
portfolio of respiratory products. Teva integrates its generics and
specialty capabilities in its global research and development
division to create new ways of addressing unmet patient needs by
combining drug development capabilities with devices, services and
technologies. Teva’s net revenues in 2014 amounted to $20.3
billion. For more information, visit www.tevapharm.com.
Teva's Safe Harbor Statement under the U. S. Private
Securities Litigation Reform Act of 1995:
The following discussion and analysis contains forward-looking
statements, which are based on management’s current beliefs and
expectations and involve a number of known and unknown risks and
uncertainties that could cause our future results, performance or
achievements to differ significantly from the results, performance
or achievements expressed or implied by such forward-looking
statements. Important factors that could cause or contribute to
such differences include risks relating to: our ability to develop
and commercialize additional pharmaceutical products; competition
for our specialty products, especially Copaxone® (including
competition from orally-administered alternatives, as well as from
generic equivalents such as the Sandoz product recently approved by
the FDA) and our ability to migrate users to our 40 mg/mL version
and maintain patients on that version; our ability to identify and
successfully bid for suitable acquisition targets or licensing
opportunities, or to consummate and integrate acquisitions; the
possibility of material fines, penalties and other sanctions and
other adverse consequences arising out of our ongoing FCPA
investigations and related matters; our ability to achieve expected
results from the research and development efforts invested in our
pipeline of specialty and other products; our ability to reduce
operating expenses to the extent and during the timeframe intended
by our cost reduction program; the extent to which any
manufacturing or quality control problems damage our reputation for
quality production and require costly remediation; increased
government scrutiny in both the U.S. and Europe of our patent
settlement agreements; our exposure to currency fluctuations and
restrictions as well as credit risks; the effectiveness of our
patents, confidentiality agreements and other measures to protect
the intellectual property rights of our specialty medicines; the
effects of reforms in healthcare regulation and pharmaceutical
pricing, reimbursement and coverage; governmental investigations
into sales and marketing practices, particularly for our specialty
pharmaceutical products; adverse effects of political or economic
instability, major hostilities or acts of terrorism on our
significant worldwide operations; interruptions in our supply chain
or problems with internal or third-party information technology
systems that adversely affect our complex manufacturing processes;
significant disruptions of our information technology systems or
breaches of our data security; competition for our generic
products, both from other pharmaceutical companies and as a result
of increased governmental pricing pressures; competition for our
specialty pharmaceutical businesses from companies with greater
resources and capabilities; the impact of continuing consolidation
of our distributors and customers; decreased opportunities to
obtain U.S. market exclusivity for significant new generic
products; potential liability in the U.S., Europe and other markets
for sales of generic products prior to a final resolution of
outstanding patent litigation; our potential exposure to product
liability claims that are not covered by insurance; any failure to
recruit or retain key personnel, or to attract additional executive
and managerial talent; any failures to comply with complex Medicare
and Medicaid reporting and payment obligations; significant
impairment charges relating to intangible assets, goodwill and
property, plant and equipment; the effects of increased leverage
and our resulting reliance on access to the capital markets;
potentially significant increases in tax liabilities; the effect on
our overall effective tax rate of the termination or expiration of
governmental programs or tax benefits, or of a change in our
business; variations in patent laws that may adversely affect our
ability to manufacture our products in the most efficient manner;
environmental risks; and other factors that are discussed in our
Annual Report on Form 20-F for the year ended December 31, 2014 and
in our other filings with the U.S. Securities and Exchange
Commission (the "SEC").
Forward-looking statements speak only as of the date on which
they are made and we assume no obligation to update or revise any
forward-looking statements or other information contained in this
report, whether as a result of new information, future events or
otherwise. You are advised, however, to consult any additional
disclosures we make in our reports to the SEC on Form 6-K. Also
note that we provide a cautionary discussion of risks and
uncertainties under “Risk Factors” in our Annual Report on Form
20-F for the year ended December 31, 2014. These are factors that
we believe could cause our actual results to differ materially from
expected results. Other factors besides those listed could also
adversely affect us. This discussion is provided as permitted by
the Private Securities Litigation Reform Act of 1995.
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version on businesswire.com: http://www.businesswire.com/news/home/20150727005506/en/
InvestorsUnited StatesKevin
C. Mannix, 215-591-8912orRan Meir, 215-591-3033orIsraelTomer
Amitai, 972 (3) 926-7656orMediaTeva United StatesDenise Bradley,
215-591-8974orTeva IsraelIris Beck Codner, 972 (3) 926-7687
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