Petach Tikva, Israel-based Teva Pharmaceutical Industries Limited (TEVA - Analyst Report), is a global pharmaceutical company with a strong presence in the generics as well as branded markets. Teva’s main branded products include Copaxone (multiple sclerosis) and Azilect (Parkinson s disease). Besides this, Teva’s branded product portfolio consists of respiratory products like ProAir, a short-acting beta-agonist for the treatment of bronchial spasms and exercise-induced bronchospasm, and Qvar, an inhaled corticosteroid for long-term control of chronic bronchial asthma.
Moreover, the company has several candidates in its pipeline, which are in different stages of clinical development for the treatment of multiple sclerosis (MS) and asthma. The company has quite a few pipeline and regulatory events lined up for 2015 including a couple of approvals, five submissions and seven launches.
A key focus will be on the timing of generic competition for Copaxone. Teva will also be pursuing business development deals.
Teva’s earnings track record has been mostly good with the company delivering positive earnings surprises in two of the last three quarters with an average surprise of 2.19% in the last four quarters. Estimate revisions are, however, mostly positive with analysts upping their estimates for 2015 thanks to the favorable Copaxone ruling.
Currently, TEVA has a Zacks Rank #2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: TEVA beat on fourth quarter earnings by a penny. Our consensus called for EPS of $1.30, and the company reported EPS of $1.31.
Marginal Revenue Beat: Teva posted revenues of $5.168 billion, slightly above consensus estimates of $5.152 billion. Currency fluctuations cut fourth quarter revenues by about $277 million. Lead branded product, Copaxone, posted sales of $1.1 billion, down 2%.
Key Stats: Teva confirmed its guidance for 2015 – in Dec 2014, the company had guided towards earnings of $5.00 - $5.30 per share on revenues of $19 - $19.4 billion.
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