Teva Earnings and Guidance Offer No Immediate Shareholder Solutions

Teva reported earnings of $1.28 per share, versus $1.10 a year ago, on a 19% gain in sales to $5.0 billion. Thomson Reuters had estimates of $1.28 per share but revenue estimates were $5.08 billion. The company reaffirmed its 2012 targets of $20 billion to $21 billion with earnings (ex-items) of $5.30 to $5.40 per share.

U.S. sales were up 28% to $2.5 billion after launching new generics and branded products, while European sales were effectively unchanged at $1.5 billion.

Rather than looking at individual drug franchise sales, the reaction pretty much sums it up. The reaction in New York has shares down 1.5% at $40.25. The consensus analyst target was $50.50 before the effects of this earnings report came out. Shares were down only about 1% in Tel Aviv on last look.

JON C. OGG