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Financial Report: Teva 3Q

Cephalon medicines boost revenue

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Teva

3Q Revenues:  $5.0 billion (+14%)

3Q Loss:  $79.0 million (earnings were $916 million 3Q11)

YTD Revenues: $15.1 billion (+20%)

YTD Earnings: $1.6 billion (-27%)

Comments: Generic revenues in the quarter were $2.5 billion (including API sales of $195 million), up 1%. Branded revenues in the quarter were $2.0 billion, up 38%, primarily due to the inclusion of Cephalon’s medicines (mainly Treanda with $160 million, Nuvigil with $94 million and Provigil with $53 million). Also, Copaxone sales increased 13% to $1.1 billion. OTC revenues were $252 million, up 38%. Earnings in the quarter were impacted by a provision for a loss contingency of $670 million relating to patent litigation, and in-process R&D of $481 million.

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