Skip to content
Subscriber Only

Teva Clears $3 Billion Buyback, Forecasts Restrained 2012 Growth

Teva Pharmaceutical Industries Ltd. forecast lackluster profit growth for next year and said it may buy back as much as $3 billion worth of its own shares to return money to investors.

Earnings excluding some costs will be $5.48 to $5.68 a share in 2012, Chief Executive Officer Shlomo Yanai said on a call with investors today. Analysts at Leerink Swann expected an estimate of $5.55 to $5.85. The world’s largest generic-drug company also indicated it may not meet its long-term target of $31 billion in sales by 2015, which Yanai described as an “aspirational goal.”