=Teva Pharma (TEVA) reported earnings on Tue 15 November 2016 (b/o)

Teva Pharma beats by $0.03, misses on revs; guides Q4 EPS in-line, revs in-line; guides FY16 EPS in-line, revs in-line :

• Reports Q3 (Sep) earnings of $1.31 per share, $0.03 better than the Capital IQ Consensus of $1.28; revenues rose 15.3% year/year to $5.56 bln vs the $5.71 bln Capital IQ Consensus.
  • Non-GAAP gross profit margin was 61.0% in the third quarter of 2016, compared to 61.8% in the third quarter of 2015.
  • Generic medicines revenues in the third quarter of 2016 were $2.9 bln, an increase of 32% compared to the third quarter of 2015, reflecting the results of operations of the Actavis generics business from August 2, 2016. In local currency terms, revenues increased 35%.
  • Specialty medicines revenues in the third quarter of 2016 were $2.0 bln, a decrease of 6% compared to the third quarter of 2015. U.S. specialty medicines revenues were $1.6 bln, down 8% compared to the third quarter of 2015.
• Co issues in-line guidance for Q4, sees EPS of $1.34-1.44 vs. $1.43 Capital IQ Consensus Estimate; sees Q4 revs of $6.2-6.5 bln vs. $6.48 bln Capital IQ Consensus Estimate.
• Co issues in-line guidance for FY16, sees EPS of $5.10-5.20 vs. $5.18 Capital IQ Consensus Estimate; sees FY16 revs of $21.6-21.9 vs. $22.1 bln Capital IQ Consensus Estimate.
• "We were also pleased to report this quarter that we have successfully completed the second pivotal phase three study for SD-809 for tardive dyskinesia and plan to submit that NDA to the U.S. FDA at the end of this year, and have also resubmitted SD-809 for Huntington disease in response to the FDA's Complete Response Letter. Going forward, we will focus on also growing our specialty pipeline through in-house opportunities, including in the development and commercialization of our key pipeline assets, most notably our anti-CGRP product for migraine headaches and fasinumab. In the face of the industry and company-specific challenges we have been dealing with this year, we remain excited about the future as we strive to create a platform that is unique to the industry, working every day to find the delicate balance between access and innovation and laying the foundation for Teva's continued growth."