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Biotech / Medical : Teva Pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: somethingwicked who wrote (274)	9/28/2000 6:55:19 PM
From: flatsville	Read Replies (1) \| Respond to of 340

It's gonna bust $80.

To: somethingwicked who wrote (274)	7/15/2001 4:21:38 PM
From: Dorine Essey	Respond to of 340

Faulding injectable generic drug sales – $160 mln in past 12 months Avishai Ovadya 15.07.2001 17:37 All of the previous acquisitions by Teva (Nasdaq: TEVA) were successfully merged into the generic drug giant. Analysts say that the acquisition of the injectable generic drug business of FH Faulding & Co. (ASX: FHF) of Australia should be no exception. Last week, Teva received the exclusive right to acquire Faulding's injectable generic drug business for $365 million in cash, as part of Mayne Nickless's offer to acquire Faulding. "According to Teva's best estimates", state Banc of America Securities' analysts, "the business generated $160 million in revenues over the past 12 months" This is all very nice, but why didn’t Teva bother to notify the public of this fact? Why must the public learn about these numbers from analysts' reports? True, this is not a major detail, but the principle that ought to drive Teva is that there are no lesser among equals. Teva said in response today, "Teva added its estimates in a conference call." This response did not convince us, because Teva should not have had to "hide" them to the multitudes, while revealing them only to its secret partners, the analysts. Banc of America Securities' analysts emphasize that the $365 million purchase price reflects a sales multiple of 2.3. They write, "Currently, Teva has a generic injectables business in Europe through the acquisition of the Dutch firm Pharmachemie in 1998, but has no presence in the US...” There is an apparent overlap in the activities of the two companies, but Teva COO Israel Makov said at the end of last week, "There is more supplement than overlap." The analysts concur, writing, "This combination would also position Teva as the worldwide leader in generic oncology products." Nevertheless, Teva will not immediate profit from the transaction. "When we buy a company," said Makov, "the acquisition usually hurts the short-term profit per share, adding profits later. We estimate there may be a slight dilution in the period immediately following the acquisition, and contribute to profits later." The analysts write, "The acquisition is likely to be accretive by 2003," as they retain their "Strong Buy" recommendation for the share. They add, "The company also indicated that dilution in the first year should be minimal." The analysts estimate that Teva will earn a profit per share of $2.19 in 2002, compared with $1.77, and give a target price of $77 in the next 12 months. Published by Israel's Business Arena on ý15ý April 2001

To: somethingwicked who wrote (274)	8/14/2001 6:20:23 AM
From: Dorine Essey	Respond to of 340

Teva dominates TASE Avi Weinreb 14.08.2001 11:53 Teva is accounting for two thirds of total turnover in the TASE this morning, reflecting interest in Teva after the company announced it would raise $300 million from issuing convertible bonds, but also reflecting a lack of interest in the rest of the market. The summer season in Tel Aviv has reached its peak, and many investors are opting for a "wait and see" approach. Consequently, turnovers are low. Yesterday, the market recorded a thin turnover of NIS 184.5 million. The tense security situation is of course weighing on traders minds, although some note that they have "acclimatized" themselves to the violence. The ongoing tension in the region is keeping many investors, especially from abroad, at bay. In late-morning trading, leading TASE indexes are flat. The TA-25 is up 0.1% to 450.96 points, the TA-100 is unchanged at 437.05 points and the Tel-Tech 15 index is up 0.2% to 274.22 points. Turnover so far totals NIS 40 million. Teva (Nasdaq: TEVA) is falling 2.1% on a NIS 26 million turnover, accounting for about two-thirds of the market. Yesterday after US markets closed, Teva announced that Teva Pharmaceutical Finance, its Netherlands-based finance subsidiary, intended to offer $300 million of twenty-year convertible senior debentures. The offering is expected to close in August. Teva expects to use the offering to fund the activities of its European and/or North American subsidiaries, for working capital, for other corporate purposes outside of Israel and to fund acquisitions, including the generic injectable products business of FH Faulding. Teva also announced that its Board of Directors had confirmed a cash dividend for the second quarter of 2001 of NIS 0.27 (approximately $0.065), per ADR. The record date will be August 21, 2001, and the payment date will be September 5, 2001.