Financial Report: Teva 1Q

Teva

1Q Revenues: $2.6 billion (+9%)

1Q Earnings: $444 million (-40%)

Comments: Generic revenues were $2.6 billion, up 9%. U.S. revenues of $1.4 billion, up 37% mainly from the launch of esomeprazole (a generic of Nexium). European revenues were $680 million, down 17% mainly from the company’s strategy of pursuing sustainable business in the region, with significant decreases in Spain and France, offset by increases in Italy and Germany. ROW revenues were $502 million, down 6%. API sales to third parties were $157 million, down 12%. Specialty medicines revenues were $2.0 billion, down 7% primarily due to lower sales of Copaxone, which were partially offset by higher revenues of respiratory products. U.S. specialty medicines revenues were $1.5 billion, down 3%, European revenues were $405 million, a decrease of 16%. ROW sales were $72 million, down 29%.