The fourth quarter results for Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA), which will be published Wednesday, will be an anti-climax after what has been a difficult year for Israel's largest company - according to Clal Finance analyst Jonathan Kreizman.
In his survey of the company, Kreizman predicts fourth quarter revenue of $5.7 billion and earnings per share of $1.58 - above the "Globes" Psagot Investment House Ltd. analyst consensus of $5.5 billion, and earnings per share of $1.53.
Clal Finance maintains its "Market Perform" recommendation on the share, without giving a target price. Kreizman writes, "In our estimates until new opportunities are ripe, Teva will find it hard to create significant organic growth after 2012. The company is in a transition period between a business model with high dependence on Copaxone and generics, and a model based more on innovative, original drugs."
Clal Finance predicts Copaxone revenue of $1.06 billion in the fourth quarter, up 13% from the corresponding quarter, and up 4% from the preceding quarter. With predicted revenue of $3.9 billion from Copaxone in 2011, Clal Finance sees 2012 Copaxone revenue slipping to $3.8 billion.
Published by Globes, Israel business news - www.globes-online.com - on February 13, 2012
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