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|January 06, 2017 7:30 a.m.|
|Teva Provides 2017 Financial Outlook|
In an effort to enhance investor understanding of the Company’s business performance, and to provide more clarity and transparency regarding its projections for 2017, the following assumptions will apply to the 2017 non-GAAP financial outlook:
Erez Vigodman, Teva’s President and Chief Executive Officer, stated: “2016 was a transition year for Teva. The entire healthcare sector has faced significant headwinds, and we have not been immune."
Mr. Vigodman continued, “Looking ahead to 2017, we are focused on
execution. We know what our key priorities are, and we are determined to
deliver on them. We are focused on extracting synergies related to the
Actavis Generics transaction, driving additional efficiencies throughout
the organization, cash generation and paying down our debt, delivering
on the promise of the specialty pipeline and executing key generic
launches. We continue to make excellent progress on the integration of
Actavis Generics and our promise of
Below are 2017 outlooks for our generics and specialty segments.
We expect generic revenues in
We expect the profitability of the generics segment in 2017 to be between 30% and 31%.
These estimates reflect management`s current expectations for Teva's performance in 2017. Actual results may vary, whether as a result of foreign exchange fluctuations, market conditions or other factors. Non-GAAP figures exclude, among other items, the amortization of purchased intangible assets, legal settlements and reserves, impairments, equity compensation expenses and related tax effects.
The preliminary expected range for forward-looking non-GAAP EPS contained in this press release is provided only on a non-GAAP basis, due to the inherent difficulty of calculating items that would be included in EPS on a GAAP basis. As a result, reconciliation of forward-looking non-GAAP EPS to GAAP EPS is not available without unreasonable effort, and Teva is unable to address the probable significance of information that is currently unavailable. It is expected that non-GAAP EPS, when reported, will reflect the exclusion of, among other things, amortization, impairments and financial expenses (and the corresponding tax effects thereof).
Teva will host a conference call and live webcast to discuss its 2017
financial outlook on
In order to participate, please dial the following numbers (at least 10
minutes before the scheduled start time):
A live webcast of the call will also be available on Teva's website at: www.ir.tevapharm.com. Please log in at least 10 minutes prior to the conference call in order to download the applicable audio software.
Following the conclusion of the call, a replay of the webcast will be
available within 24 hours on the Company's website. The replay can also
be accessed until
Teva's Safe Harbor Statement under the
This release contains forward-looking statements, which are based on
management’s current beliefs and expectations and involve a number of
known and unknown risks and uncertainties that could cause our future
results, performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause or
contribute to such differences include risks relating to: our ability to
develop and commercialize additional pharmaceutical products;
competition for our specialty products, especially Copaxone® (which
faces competition from orally-administered alternatives and a generic
version); our ability to realize the anticipated benefits of the
Teva Pharmaceuticals Industries Ltd.