Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) predicts non-GAAP earnings per share of $5.48-5.68 on $22 billion revenue for 2012. The guidance is in the market consensus of earnings per share of $5.67 on $22 billion revenue.
Teva predicts cash flow from operations of $5 billion in 2012 and free cash flow of $3 billion.
Teva president and CEO Shlomo Yanai said, "We have been the largest generic company in the US for the past ten years, and we're committing to keeping our position in the future. 2011 was a tough year for our generic business in the US." He added, "There is better than expected synergy from the Cephalon acquisition."
Teva says that half of its 2012 revenue will come from the US. European sales will total $6.6 billion, and sales from the rest of the world will total $4.4 billion. Sales of generic drugs, including active pharmaceutical ingredients (APIs) will total $11.8 billion, of which $5 billion will be in the US, $4 billion in Europe, and $2.8 billion will be in the rest of the world.
Brand drug sales are projected to reach $8.2 billion in 2012, including $3.8 billion by Teva's intravenous multiple sclerosis drug Copaxone, and by $350 million by its treatment for Parkinson's disease, Azilect. Brand drugs acquired through the acquisitions of Cephalon and Ivax will total $2.1 billion. They include $490 million in sales from asthma treatments ProAir HFA and $400 million from Qvar, both developed by Ivax; and $550 million from sales of leukemia treatment Treanda, $375 million from sales of wakefulness enhancers Provigil and $300 million from Nuvigil, all developed by Cephalon.
Sales of women's health products are projected to reach $525 million, and sales of other over-the-counter drugs are projected to total $1 billion.
Teva expects to spend 6.9-7.3% of net sales on R&D, including clinical support of 30 late stage innovative drug candidate programs. The joint venture with Lonza Group Ltd. and investment in a variety of smaller companies, will be close to 8% of net sales.
Teva's share price fell 1.6% on the TASE following the announcement to NIS 156.60, after rising over 1% in morning trading. The share price fell 1.8% in premarket trading on Nasdaq to $41.60.
Published by Globes [online], Israel business news - www.globes-online.com - on December 21, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011