- Teva Pharmaceutical Industries (NYSE:TEVA) provides its outlook for 2015 (versus most recent guidance for 2014):
- Net Revenues: $19.0B - 19.4B vs. $20B - 20.3B; Gross Profit: 59.5 - 61.5%; Operating Income: $5.7B - 5.9B vs. $5.65B - 5.75B; EPS: $5.00 - 5.30 vs. $5.00 - 5.10; CF Ops: $4.3B - 4.7B.
- Generics revenues: $9.1B - 9.5B; Generics Profit: $2.4B - 2.6B; Specialty revenues: 7.9B - 8.3B; Specialty profit: $4.1B - 4.4B.
- Copaxone: $3.5B - 3.7B; Azilect: $350M - 400M; Nuvigil: $300M - 330M; Treanda: $670M - 750M; ProAir family: $470M - 580M; Qvar family: $310M - 380M.
- Guidance assumes the entry of two generic competitors to Copaxone in the U.S. beginning in September. Earlier entry could reduce operating income by $30M - 50M per month. Generic Pulmicort will face additional generic competition in the first half which will decrease revenues $400M - 500M and decrease operating profit by $100M - 200M.
- Share buybacks should be $1.0B - 1.2B.
- Shares are off a fraction premarket on average volume.