Teva beats Street

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) reported 4Q13 and 2013 earnings that beat the Street on Thursday. The specialty pharma and generics company reported 4Q13 non-GAAP diluted EPS of $1.42, up from $1.32 in 4Q12 and beating the Street's $1.40 estimate. Total revenues for the quarter were $5.4 billion, up 3% from $5.2 billion in 4Q12. The Street was expecting $5.2 billion in revenues. For the year, Teva reported non-GAAP diluted EPS of $5.01, down from $5.35 in 2012 but beating the Street's $4.98 estimate. Total 2013 revenues were $20.3 billion, flat with 2012 revenues and beating the Street's $20.1 billion estimate.

Erez Vigodman is set to take over as Teva's president and CEO on Tuesday and will retain his seat on the board -- a first for the Israeli company. Last month, Teva Chairman Phillip Frost also said the company plans to add new board members with global healthcare experience while reducing the board's size (see BioCentury, Jan. 27). ...