This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Teva Pharmaceutical Industries Limited's CEO Discusses Q1 2012 Results - Earnings Call Transcript

During the quarter, we undertook an important initiative to streamline some of our commercial arrangements in the U.S. In the near and midterm, these changes will yield important financial benefits for Teva.

During Q1, however, these moves had a negative impact on revenues of approximately $180 million. Revenues were also impacted by currency exchange rates during the quarter of $81 million.

I would like to discuss just a few highlights from our major businesses during the quarter, and Eyal will elaborate later on all of our businesses in a greater detail in his remarks.

This was the second consecutive quarter of solid results in our U.S. generics business. Teva's world-class generics R&D, broad product portfolio, continuing improvements in service levels and deep customer relationships have enabled us to bounce back to enjoy growth of 29% year-over-year. During the first quarter, we launched 7 new generic products, representing over $10 billion in branded sales in the U.S. market, and a number of these launches were either exclusive, semi-exclusive or in limited competition markets.

In Europe, in spite of rough macroeconomic conditions, sales grew by 3% during the quarter in local currencies to $1.3 billion. We saw a significant increase in sales of our branded products due primarily to the inclusion of products we acquired from Cephalon, as well as the take-back of Copaxone distribution and marketing rights from Sanofi.

In fact, in the EU countries, where we recently took back Copaxone sales and marketing rights, however, its growth in units is about 7%. This offset lower generic sales due to the ongoing macroeconomic conditions and health care reforms in key European markets. Our strategy of diversifying our business in Europe geographically and from a product standpoint, as well as our significant footprint in the continent has helped us to successfully mitigate some of the prevailing pressures.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,203.37 -85.26 -0.47%
S&P 500 2,107.78 -9.61 -0.45%
NASDAQ 4,979.9010 -28.1950 -0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs