Teva predicts increase in sales for 2009
18 Feb 2009
Teva Pharmaceuticals has predicted the second half of 2009 will be better than the first six months.
According to estimations from the company, which announced record sales of $11.1 billion (£7.8 billion) this week, 2009 will see a further boost.
The firm predicted sales will rise to between $14.1 billion and $14.6 billion, despite the current economic difficulties.
It predicts non-GAAP earnings per share will be between $3.20 and $3.40 but says this could improve if third and fourth-quarter sales increase on the first half of 2009.
Teva's non-GAAP figures leave out restructuring charges, impairment costs, inventory set up charges of around $270 million and tax benefits of about $250 million.
Results announced by the company this week were attributed by Schlomo Yanai, president and chief executive of Teva, to extended leadership in the US and globally.
The Israeli-based pharmaceuticals firm reported revenues in the fourth quarter of 2008 increased by 11 per cent, to $2.8 billion.
