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News Breaks | | | | November 30, 2012 | | 10:35 EDT |  | TEVA | Teva sees 2013 EPS, sales below estimates but long-term cost savings
Teva Pharmaceutical (TEVA) this morning said its FY13 adjusted EPS and net revenue would miss analysts' estimates. For the year, the company is guiding adjusted EPS $4.85-$5.15, well below the consensus of $5.65, on total net revenue $19.5B-$20.5B, also below the consensus of $20.82B. By region, the company forecast U.S. net revenue $10B-$10.6B and Europe revenue $5.5B-$6.1B. Additionally, Teva guided generic medicines net revenue of $10.3B-$10.7B and branded medicines net revenue $7.6B-$8B, including $3.7B-$3.9B in global net revenue for Copaxone and $600M-$700M in global net revenue for Treanda. Teva also provided guidance for FY13 free cash flow of $2.5B-$2.8B, cash flow from operations of $4.5B-$4.8B and adjusted gross profit margin of 59%-61%. On its conference call discussing the 2013 outlook, CFO Eyal Desheh said the company's planned reshaping is expected to yield significant cost savings of $1.5B-$2B over the next five years, and noted that the company will discontinue some legacy R&D programs. The executive also said that Teva is taking a "careful approach" to its Copaxone forecast, guiding for a slight y/y decrease in Copaxone sales. Desheh said the company is looking at the dividend policy on a regular basis with the board, and remains committed to dividends. The company said it is not currently contemplating large acquisitions. Teva CEO Jeremy Levin said that "Going forward you will find that Teva looks like a very different company from the Teva of the past." Following the 2013 guidance and conference call, Teva was positively mentioned at Deutsche Bank. Teva is trading up 50c, or 1.24%, to $40.72 in mid-morning trading. | |
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News For TEVA From The Last 14 Days Check below for free stories on TEVA the last two weeks. |
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| May 22, 2013 | | 16:23 EDT | | TEVA | Alexza Pharmaceuticals chief commercial officer to leave company
 Subscribe for More Information | | | May 20, 2013 | | 11:27 EDT | | TEVA | Appeals court reverses, remands patent ruling in Sanofi suit against Mylan, Teva
Subscribe for More Information | | | May 13, 2013 | | 09:44 EDT |  | TEVA | Several companies reportedly interested in buying Adcock Ingram, Globes says
Subscribe for More Information | | | 07:49 EDT |  | TEVA | FDA decision on Opana a modest positive for Impax, says Leerink
Leerink views the FDA's denial of Endo's (ENDP) Citizen Petition as a modest positive for Impax (IPXL), which it notes is the sole holder of 180 day exclusivity on generic Opana. However, Leerink says upside for Impax will be limited as Actavis (ACT), Sandoz, and Teva (TEVA) have settlements to enter the market starting in June 2013 when Impax's 180-day generic exclusivity expires. | |
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