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Financial Report: Teva

Foreign exchange impacts results, specialty medicines revenue flat in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Teva
 
3Q Revenues: $4.8 billion (-5%)

3Q Earnings: $116 million (-87%)

YTD Revenues: $14.8 billion (-2%)

YTD Earnings: $1.1 billion (+52%)

Comments: Specialty medicines revenue in the quarter was flat at $2.2 billion. Global sales of Copaxone were $1.1 billion, down 2%. Azilect revenues were $92 million, down 11%. Sales of respiratory products were $285 million, up 31% driven by ProAir ($149 million, up 34%). Generic revenues were $2.2 billion in the quarter, down 9% mainly from a decline in sales of budesonide (Pulmicort), niacin ER (Niapsan) and capecitabine (Xeloda) in the U.S., the company’s European generics business strategy with increases in Spain, Italy and Germany, offset by decreases in France, Switzerland and the U.K. R&D expenses were flat at $356 million.

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