Teva posts strong rise in 2nd-qtr 2015 profits ahead of analysts' forecasts

Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA) has reported a slight downturn in second-quarter 2015 sales, but significant profits growth. Teva’s shares dipped 2.4% to 26,460 Israeli shekels by close of Tel Aviv trading.

Teva, which has just announced a $40.5 billion  acquisition of Allergan, said that revenues in the second-quarter amounted to $5.0 billion, down 2% compared to the like 2014 quarter, and beating analysts’ of $4.77 billion. Excluding the impact of foreign exchange fluctuations and the sale of the US over-the-counter (OTC) plants in July 2014, revenues grew 6%.

Non-generally-accepted accounting principles (GAAP) gross profit was $3.1 billion, up 7%. Non-GAAP growth profit margin was 62.8%, compared to 58.1% in the second quarter of 2014. GAAP gross profit was $2.9 billion in the second quarter of 2015, compared to $2.7 billion in the second quarter of 2014. GAAP gross profit margin was 58.4% in the quarter, compared to 52.7% in the second quarter of 2014.