Teva 1st-qtr sales and profits decline

2 May 2013

Israel-based Teva Pharmaceutical Industries (NYSE: TEVA) says that first-quarter 2013 net revenue dipped 4% to $4.9 billion. Quarterly non-GAAP operating income of $1.3 billion was down 21% compared to the first quarter of 2012. Quarterly GAAP operating income was $874 million compared to $928 million, a fall of 5.9%.

Non-GAAP gross profit margin was 58.6% in the quarter, compared to 60.9% in the first quarter of 2012. This primarily reflects the loss of exclusivity on Provigil (albuterol sulfate inhalation aerosol) and a decreased contribution from the sales of exclusive generic medicines in the USA. This was offset by higher sales of its multiple sclerosis drug Copaxone (glatiramer acetate). Teva reiterated its2013 revenue forecast $19.5-$20.5 billion and adjusted EPS of $4.85-$5.15.

Revenues by geographies

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