Teva Pharmaceutical Industries Limited (NYSE: TEVA) reported its second-quarter financial results Thursday before the markets opened. The company had $1.43 in earnings per share (EPS) on $5.0 billion in revenue compared to Thomson Reuters consensus estimates of $1.27 in EPS on $4.77 billion in revenue. The same quarter from the previous year had $1.32 in EPS on $5.06 billion in revenue.

In late July 2015, Teva announced that it entered into a definitive agreement with Allergan plc to acquire Allergan’s worldwide generic pharmaceuticals business for total consideration of $40.5 billion comprised of $33.75 billion in cash and Teva shares valued at $6.75 billion. Subject to satisfaction of the closing conditions, Teva expects the acquisition to close in the first quarter of 2016.

The company pointed out that revenues amounted to $200 million in the second quarter, mostly from the distribution of third-party products in Israel and Hungary, compared to revenues of $229 million, in the second quarter of 2014.

Erez Vigodman, Teva’s President and CEO, said:

Teva’s second quarter solid performance was driven by important contributions from across our integrated portfolio of high-quality generic and specialty medicines. We continue to deliver on our promise to take bold steps forward, both organic and inorganic, to position Teva for sustainable, profitable growth, execute on our strategic and operational initiatives, improve our profitability, strengthen our cash flow generation, and build the most competitive operating network in the industry.

At the end of June, cash and cash equivalents decreased to $2.8 billion, compared to $3.8 billion at the end of March 2015, mainly due to the Auspex acquisition payment and a repayment of $1 billion of senior notes. This was partially offset by short term borrowing and free cash flow generated during the quarter.

Shares of Teva closed Wednesday down 0.7% at $70.88 on a 52-week trading range of $47.36 to $72.31. In early trading indications, shares were down 0.9% at $70.28. The stock has a consensus analyst price target of $75.53.

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