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Financial Report: Teva

Specialty Medicines down 6% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Teva

4Q Revenues: $4.9 billion (-6%)

4Q Earnings: $498 million (-28%)

FY Revenues: $19.7 billion (-3%)

FY Earnings: $1.6 billion (-48%)

Comments: Specialty Medicines revenue was $2.1 billion in the quarter, down 6%, primarily due to lower sales of Copaxone and Azilect, which were partially offset by higher revenues of respiratory products. Specialty Medicines accounted for 44% of total revenues in the quarter. Generic Medicines revenue was $2.3 billion in the quarter, down 9%. R&D expenses were $395 million in the quarter, up 14%. Exchange rate fluctuations reduced revenues by $259 million in the quarter, and $1.3 billion for the year.

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