Teva lowers full-year 2012 forecasts
Israel-based generic drug major Teva Pharmaceutical Industries (Nasdaq: TEVA) has provided its current outlook for non-GAAP financial performance for the full year ending December 31, 2012.
The company says it now expects total net sales of approximately $20 billion-$21 billion, down from a previous forecast of $22 billion. consisting of total US net sales of $10.5 billion, total European net sales of $5.8 billion, and total rest of the world net sales of $4.2 billion. Non-GAAP diluted earnings per share are now forecast to come in at between $5.30 and $5.40, down from previous projections of $5.48-$5.68, largely as a result of weaker economies and health care reform in Europe.
Impacted by negative currency and health care reforms, says CEO
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