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Teva Pharmaceutical Industries Limited (TEVA - Free Report) , which is looking to strengthen its generics business with the upcoming acquisition of Allergan plc’s Generics business for $40.5 billion, has raised its second-quarter 2016 guidance for both earnings and revenues.
For the second quarter of 2016, Teva now expects revenues in the range of $4.9–$5.0 billion, up from the previous guidance of $4.8–$4.9 billion. Earnings are now projected to come in the range of $1.19–$1.22 per share, again higher than the earlier outlook of $1.16–$1.20. The Zacks Consensus Estimate for earnings is currently $1.16 per share on revenues of $4.81 billion, below management’s latest guidance range.
Cash flow from operating activities is now anticipated to be $1.0–$1.1 billion, compared to the old guidance of $1.2–$1.3 billion.
Teva will also reveal preliminary results for second-quarter 2016 in a conference call. The company will also disclose a preliminary financial outlook for the 2016–2019 period. The outlook will include the impact of the pending acquisition of Allergan’s Generics business, which is currently awaiting an approval of the U.S. Federal Trade Commission.
We note that Teva is required to divest overlapping products in the companies’ portfolio and pipeline in order to obtain the regulatory authority’s clearance. Late last month, Impax Laboratories Inc. entered into definitive agreements with Teva and Allergan, and agreed to buy a broad portfolio of generic products.
We also remind investors that the company has received the European Commission’s approval for the acquisition this March. Teva has agreed to divest the majority of Allergan’s current Generics business in the UK and Ireland.
Investors looking for well-ranked stocks in the health care sector can consider Mylan N.V. and Impax. Both stocks carry a Zacks Rank #2 (Buy).
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Teva Raises Q2 Guidance; to Unveil 2016-2019 View
Teva Pharmaceutical Industries Limited (TEVA - Free Report) , which is looking to strengthen its generics business with the upcoming acquisition of Allergan plc’s Generics business for $40.5 billion, has raised its second-quarter 2016 guidance for both earnings and revenues.
For the second quarter of 2016, Teva now expects revenues in the range of $4.9–$5.0 billion, up from the previous guidance of $4.8–$4.9 billion. Earnings are now projected to come in the range of $1.19–$1.22 per share, again higher than the earlier outlook of $1.16–$1.20. The Zacks Consensus Estimate for earnings is currently $1.16 per share on revenues of $4.81 billion, below management’s latest guidance range.
Cash flow from operating activities is now anticipated to be $1.0–$1.1 billion, compared to the old guidance of $1.2–$1.3 billion.
TEVA PHARM ADR Price
TEVA PHARM ADR Price | TEVA PHARM ADR Quote
Teva will also reveal preliminary results for second-quarter 2016 in a conference call. The company will also disclose a preliminary financial outlook for the 2016–2019 period. The outlook will include the impact of the pending acquisition of Allergan’s Generics business, which is currently awaiting an approval of the U.S. Federal Trade Commission.
We note that Teva is required to divest overlapping products in the companies’ portfolio and pipeline in order to obtain the regulatory authority’s clearance. Late last month, Impax Laboratories Inc. entered into definitive agreements with Teva and Allergan, and agreed to buy a broad portfolio of generic products.
We also remind investors that the company has received the European Commission’s approval for the acquisition this March. Teva has agreed to divest the majority of Allergan’s current Generics business in the UK and Ireland.
Investors looking for well-ranked stocks in the health care sector can consider Mylan N.V. and Impax. Both stocks carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>