PETAH TIKVA (dpa-AFX) - Teva Pharmaceutical Industries Ltd. (TEVA) Tuesday issued its current outlook for adjusted earnings per share and revenues for the full year ending December 31, 2014.
Considering the uncertainty concerning possible generic competition to Copaxone in the U.S., the company provided two alternative scenarios for its current non-GAAP financial outlook for the year.
The 'Generic Copaxone' scenario assumes the launch of at least two AP-rated generic competitors to Copaxone in the U.S. on June 1, 2014.
The 'Exclusive Copaxone' scenario assumes no generic competition to Copaxone in the U.S. during 2014.
The company sees earnings per share of $4.20-$4.50 per share in the Generic Copaxone scenario, and $4.80-$5.10 in the Exclusive Copaxone scenario.
On average, 22 analysts polled by Thomson Reuters expect earnings of $4.94 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues are estimated to be $19.3 billion to $20.3 billion in the Generic Copaxone scenario and $19.8 billion to $20.8 billion in the Exclusive Copaxone scenario. Wall Street expect revenues of $19.96 billion.
Teva estimates that each month of delay in the launch of generic competitors to Copaxone in the U.S. will contribute on average $78 million to net revenues and $0.08 to non-GAAP earnings per share.
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