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- Teva (TEVA) net profit rises to $380M from $320M.
- The 4.8% increase in revenue was primarily attributable to higher sales of generic medicines in the U.S., specialty medicines globally and OTC products. The rise was partially offset by a decrease in generics sales outside the U.S., mostly in Japan due to the weaker yen, and API sales to third parties.
- Revenue breakdown: total generics +1% to $2.7B; specialty medicines +5% to $2.2B. Copaxone +8% to $1.1B.
- Teve reaffirms its 2014 outlook.
- Declares 2013 dividend of 1.21 shekels ($0.34) a share, +5% from Q3. The record date will be February 24, and the payment date March 10. Tax will be withheld at a rate of 15%. (PR)
May 30, 2013, 9:54 AM
Teva (TEVA -0.1%) will pay 336M shekels ($91M) in taxes under an amendment to Israel's Law for the Encouragement of Capital Investments and could pay a further amount by November. The law allows a company to use tax-exempt profits earned before the end of 2011 to distribute dividends as long it pays certain reduced taxes.| May 30, 2013, 9:54 AM | 1 Comment
Feb. 7, 2013, 9:03 AM
More on Teva (TEVA -2.1%) Q4: net profit -37% to $320M as revenue falls 7.5%. U.S. sales -14% to $2.6B amid a sharp fall in Provigil (sleep disorder) due to generic competition. Copaxone global revenues +14% to $1.1B, but faces increasing competition. Expects to launch 23 generic drugs in 2013, as in 2012. Reiterates 2013 revenue forecast of $19.5-20.5B and adjusted EPS of $4.85-5.15. Declares dividend of 1.15 shekels (31 cents) a share, +15% from Q3.| Feb. 7, 2013, 9:03 AM | 2 Comments