Teva will report $1.44 billion Q4 revenues, predicts Clal Finance
20.2.06 | 18:39 By Tal Levy
For the fourth quarter of 2005, Teva (TASE, Nasdaq: TEVA) will be reporting a 9% sequential increase in revenues to $1.44 billion, predicts Clal Finance Batucha.
Analyst Yisca Erez believes that Teva, which regained the title of the world's biggest generic drugs company after purchasing Ivax Corp, will earn $296 million in the fourth quarter of 2005, which will lift its profit for the year to $1.06 billion.
During the last quarter Teva launched five generic drugs, including two particularly important ones. One is the generic version of Zithromax, an antibiotic that commands brand sales of $1.6 billion a year. Teva can expect to add $50-55 million to its income. The other is generic Oxycontin, an analgesic, that has brand sales of $1.2 billion a year. It is expected to add $10 million to profit.
In the third quarter Teva also launched generic Allegra, an allergy treatment, which is expected to contribute $140-150 million to fourth-quarter sales, but only 8 cents per share to earnings because of a partnership with Barr.
Copaxone, its proprietary treatment for relapsing-remitting multiple sclerosis, also sold well in the fourth quarter. Now the company has another proprietary drug, Agilect (the European brand name for rasagiline), to treat Parkinson's Disease. It is sold in Europe but days are young, and Teva awaits marketing approval in the U.S.
What the world is waiting for is Teva's guidance for 2006 after its merger with Ivax, Erez wrote. She believes its revenues will reach $8.9 billion and its profit, $1.95 per share.
haaretz.com
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