Teva Pharma (TEVA) Tops Q2 EPS by 5c; Guides In-Line

Teva Pharma (NYSE: TEVA) reported Q2 EPS of $1.25, $0.05 better than the analyst estimate of $1.20. Revenue for the quarter came in at $5 billion versus the consensus estimate of $4.87 billion.

“We are pleased with our performance this quarter and the steps we are taking to transform our business, notably the recent completion of our acquisition of Actavis Generics and the proposed purchase of Anda Inc. We have brought together two leading businesses with complementary strengths, R&D capabilities, product pipelines and portfolios, geographical footprints, operational networks and cultures. The result is a stronger, more competitive Teva, well positioned to thrive in an evolving global marketplace,” stated Erez Vigodman, President and CEO.

Vigodman continued, “Going forward we are focused on the integration of Actavis Generics, delivering on our operational and financial targets and on the ongoing development and commercialization of the more than 35 innovative products in our pipeline. We plan to use our strong cash flow to pay down debt and continue to invest in attractive specialty products. We are excited about our future and our ongoing pursuit to increase access to important medicines for patients around the world."

GUIDANCE:

Teva Pharma sees FY2016 EPS of $5.20-$5.40, versus the consensus of $5.30. Teva Pharma sees FY2016 revenue of $22-22.5 billion, versus the consensus of $22.3 billion.

For earnings history and earnings-related data on Teva Pharma (TEVA) click here.

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