Teva reports 2Q14 earnings, raises EPS guidance
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) reported 2Q14 earnings and raised its 2014 EPS guidance on Thursday. The specialty pharma and generics company reported non-GAAP diluted EPS of $1.23, beating by a penny the Street's $1.22 estimate and up from $1.20 in 2Q13. Revenues in the quarter were $5.05 billion, missing the Street's $5.09 billion estimate but up from $4.9 billion in the prior year's quarter.
Teva said it now expects 2014 adjusted diluted EPS of $4.50-$4.80, assuming the U.S. launch of generic competitors to multiple sclerosis drug Copaxone glatiramer in August. Without Copaxone generics in 2014, Teva expects EPS of $4.90-$5.10. The company previously expected EPS of $4.20-$4.50 assuming the U.S. launch of generic versions of Copaxone on June 1, and EPS of $4.80-$5.10 in the exclusive Copaxone scenario. ...