The company will provide new forecasts later today for 2016-2019 factoring in the Actavis acquisition.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has raised its revenue forecast for the second quarter of 2016 to $4.9-5 billion from $4.8-4.9 billion. The Israeli drugmaker has also raised its earnings-per-share forecast to $1.19-1.22 from $1.16-1.2. Cash flow from ongoing operations is expected to be $1-1.1 billion down from $1.2-1.3 billion.
The company will hold a conference call later today to provide detailed forecast from 2016 through 2019 including projections for the Actavis deal.
However, Teva is yet to complete acquisition of Actavis, the generics division of Allergan. The $41 billion acquisition was agreed in July 2015 and following delays due to the antitrust demands of the US Federal Trade Commission is yet to be completed.
Published by Globes [online], Israel business news - www.globes-online.com - on July 13, 2016
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Teva photo: PR