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Teva Pharma (TEVA) Tops Q4 EPS by 2c; Reaffirms

February 13, 2017 6:43 AM

(Updated - February 13, 2017 6:44 AM EST)

Teva Pharma (NYSE: TEVA) reported Q4 EPS of $1.38, $0.02 better than the analyst estimate of $1.36. Revenue for the quarter came in at $6.5 billion versus the consensus estimate of $6.26 billion.

Teva reaffirms its 2017 full year non-GAAP guidance; including revenues of $23.8 - 24.5 billion, and non-GAAP EPS of $4.90 - 5.30

"2016 was a transitional year for Teva - one that included significant achievements, as well as challenges," stated Dr. Yitzhak Peterburg, Interim President and CEO of Teva. "While we continue to manage through a turbulent and constantly evolving industry, we are committed to execute against our strategy with more diversified revenue sources and profit streams, all backed by strong product development engines in both generics and specialty."

"In 2017, our main focus will be extracting synergies related to the Actavis Generics transaction, driving additional efficiencies throughout the organization, supporting cash generation and paying down our debt to maintain a strong balance sheet and delivering on the promise of the specialty pipeline and key generic launches. We are laser focused on execution at this critical juncture and are determined to deliver on our key priorities."

Dr. Peterburg continued, "With the entire Teva team, I am conducting a thorough review of the business to find additional opportunities to enhance value. Our management team is committed to delivering for our shareholders and unlocking the full potential of our pipeline and global business. We remain excited about the future as we strive to create a platform that supports continued growth and value creation for patients, shareholders and healthcare systems around the world."

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

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