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Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) today reported results for the quarter ended June 30, 2013.
“Net revenue of $4.9 billion was in-line with the previous quarter, and we are pleased with increased sales in our Specialty franchise, as well as in our OTC business,” said
Jeremy Levin, Teva’s President and Chief Executive Officer. “In the short to mid-term, we are especially excited by the positive momentum of our U.S. Generics business, progression in our R&D portfolio, especially in the NTE franchise, and by the expected launches of key generic and specialty medicines."
Dr. Levin continued, “Teva is a different company than it was one year ago; I have great confidence in where the company is and in its future. We are building a strong and diverse business, as well as a robust pipeline that positions Teva to achieve a high level of performance and growth."
Revenues for the three months ended June 30, 2013, amounted to $4.9 billion, a decrease of 1% compared to the second quarter of 2012, which was a strong quarter. The decrease was primarily attributed to a decline in revenues of generic medicines in the United States and Europe, and exchange rate fluctuations in our ROW markets, primarily in Japan, which had a negative impact of $55 million on sales. The decline was partially offset by higher revenues of COPAXONE
® and other specialty medicines
in the United States and in Europe as well as by higher revenues from our OTC products.
Revenues by Geography for the Second Quarter 20131
Net revenues in the
United States in the second quarter were $2.5 billion (51% of total revenues), an increase of 2% compared to the second quarter of 2012, driven primarily by increased sales of COPAXONE
®, offset by lower revenues of generic medicines.
Net revenues in
Europe in the second quarter were $1.5 billion (30% of total revenues), a decrease of 3% (4% in local currency terms) compared to the second quarter of 2012. The decline in revenues was mainly due to lower revenues from sales of generic medicines. This was partially offset by increased sales from our OTC business.
Net revenues in the
Rest of the World in the second quarter totaled $945 million (19% of total revenues), a decrease of 8% (1% in local currency terms) compared to the second quarter of 2012. In addition to negative foreign currency effects (primarily the Japanese yen), the decline in revenues was due to lower revenues in Russia, resulting from the timing of COPAXONE
® tenders as well as in Canada and Japan.
Three Months Ended June 30,
% of 2013
% of 2012
U.S. $ in millions
in local currencies
Total United States
Rest of the World:
Total Rest of the World
*All members of the European Union, Switzerland, Norway and certain South Eastern Europe countries