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ThuDec11,20149:27pmEST

Teva Pharm sees 2015 revenue lower than forecast

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TevaPharmaceuticalIndustries'Jerusalemoralsoliddosageplant(OSD)isseeninthisfilephototakenonDecember
21,2011.
REUTERS/RONENZVULUN

TevaPharmaceuticalIndustries(TEVA.N)(TEVA.TA)forecast2015revenuebelow
analysts'expectations,duetoadverseforeignexchangemovesandgenericcompetition
foritsbestsellingmultiplesclerosistreatmentCopaxone.
Tevaistheworld'sbiggestmakerofgenericdrugsbutitsbrandedMSdrugCopaxoneis
itsmostlucrativeproduct,accountingforabout20percentofsalesand50percentofprofit.
Theinjectabledrugfacescompetitionfromoraltreatmentsaswellascheapergenericsin
comingyears.
Watch your top stories

IsraelbasedTevasaidonThursdayits2015forecastassumesitwillfacetwogeneric

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competitorsintheUnitedStatesbeginninginSeptember2015.

match defendants

"Earlierentrybygenericscouldreduceoperatingincomeby$30millionto$50millionper

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TherearetwoteamsdevelopingcheapergenericformsofCopaxone:oneinvolving

For more visit Reuters.tv

NovartisAG's(NOVN.VX)SandozIncandMomentaPharmaceuticalsInc(MNTA.O)and
anotherinvolvingMylanInc(MYL.O)andNatcoPharmaLtd(NATP.NS).
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Tevaforecast2015dilutedearningspershareexcludingonetimeitemsof$5.00$5.30on
revenueof$19.0$19.4billion.AnalystscurrentlyforecastEPSof$5.06andrevenueof
$20.1billion,accordingtoThomsonReutersI/B/E/S.
Tevaisexpectedtoearn$5.06ashareonrevenueof$20.3billionin2014.
Foreignexchangefluctuationsareexpectedtocut$700millionfrom2015revenue
comparedwith2014,whilereducingoperatingincomeby$60$70million,itsaid.
ProfitabilityofTeva'sgenericsbusinessisexpectedtogrowin2015asthecompanyshifts
fromlessprofitablemarketsandbenefitsfromcostcuts.

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ItexpectsitsgenericversionofAstraZeneca's(AZN.L)Pulmicorttreatmentforasthmato
behitbyadditionalgenericcompetitioninthefirsthalfof2015.

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TevaChiefExecutiveErezVigodmansaidheexpectsapprovalforfourspecialtydrug
productsandfivesubmissionsin2015.

2. CarstoBuyin2015
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TevainFebruarybroughtinturnaroundspecialistVigodmantocutcostsandimprovethe
genericsbusiness,whereprofitshavewanedascompetitiongrowsandopportunitiesfade.
Tevaalsosaiditexpectstospend$1billionto$1.2billiononsharebuybacksduring2015.

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(EditingbyStevenScheerandMarkPotter)

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