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News Breaks
November 30, 2012
10:35 EDTTEVATeva 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.
News For TEVA From The Last 14 Days
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May 29, 2015
08:32 EDTTEVATeva launches generic Lomedia 24 Fe tablets
Teva announces the launch of the generic equivalent of Lomedia 24 Fe as part of the extensive line of Womenís Health products. The product will be launched under the name Junel Fe 24 and is now available in the United States. Lomedia 24 Fe marketed by Amneal had annual sales of approximately $32M in the United States, according to IMS data as of December 2014. Junel Fe 24 is indicated for the prevention of pregnancy in women who elect to use oral contraceptives as a method of contraception.
May 28, 2015
09:07 EDTTEVAFTC, Teva reach $1.2B settlement over Provigil
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08:55 EDTTEVAXenon Pharmaceuticals sees IND for phase 1 trial of XEN801 in mid-2015
Xenon Pharmaceuticals (XENE) announced that Dr. Simon Pimstone, Xenon's President and CEO, will present a business update, including progress toward milestones, at the Jefferies Global Healthcare Conference on Tuesday, June 2. Xenon's partner Teva Pharmaceutical (TEVA) is conducting a randomized, double-blind, placebo-controlled Phase 2b clinical trial for TV-45070 in osteoarthritis. Results from the trial are now expected late in the second quarter or early in the third quarter of 2015. Xenon's partner Genentech, a member of the Roche Group (RHHBY), is currently conducting a Phase 1 clinical trial for GDC-0276, which is expected to complete patient enrollment in the second half of 2015. Xenon expects to file an investigational new drug equivalent application to initiate a Phase 1 clinical trial of XEN801, a stearoyl Co-A desaturase or SCD1 inhibitor for treatment of acne, in mid-2015. If supported by positive data from the Phase 1 trial, Xenon plans to initiate a proof-of-concept Phase 2 clinical trial in the second half of 2015. Xenon expects to file an investigational new drug application for Xenon's Nav1.6 sodium channel inhibitor for Dravet Syndrome in 2016.
06:11 EDTTEVATeva takes 1.35% stake in Mylan, says 'ready to meet' on deal
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May 27, 2015
12:10 EDTTEVATeva to sweeten offer for Mylan before July shareholder vote, NY Post says
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08:24 EDTTEVAFDA reports paragraph IV patent challenge received for Treanda
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May 19, 2015
06:08 EDTTEVAPerrigo CEO says would talk with Mylan, but at a higher price, Globes reports
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