Teva Boosts Outlook as Results Top Estimates
29 Octobre 2015 - 2:10PM
Dow Jones News
Teva Pharmaceuticals Industries Ltd. sharply raised its guidance
for the year as third-quarter results came in better than expected,
though overall profit declined sharply on charges.
The company now expects earnings for the year in the range of
$5.40 to $5.45 and revenue of $19.4 billion to $19.6 billion, up
from its previous forecast of $5.15 to $5.40 of earnings and
revenue of $19 billion to $19.4 billion.
Teva recently said it would buy the generics business of
Allergan PLC for about $40 billion, a move that followed a
several-way tug of war among drug makers. The deal is expected to
close in the first quarter of 2016. That deal pushed Teva to drop
its previous pursuit of Mylan NV, which in turn has said it plans
to acquire Perrigo Co.
Overall, Teva reported a profit of $103 million, or 12 cents a
share, down from $876 million, or $1.02 a share, largely due to
restructuring charges. On an adjusted basis, per-share earnings
were $1.35, up from $1.33. Revenue fell 4.6% to $4.82 billion.
Analysts polled by Thomson Reuters had expected earnings of
$1.28 a share on $4.77 billion in revenue.
Shares were inactive premarket.
Write to Anne Steele at Anne.Steele@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 29, 2015 08:55 ET (12:55 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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