Teva Fourth-Quarter Earnings Slides as Generic Sales Drop
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Teva Pharmaceutical Industries Ltd.’s fourth-quarter earnings fell 19 percent as generic-drug sales dropped and competition hurt the Provigil sleep-disorder pill.
Profit excluding some costs declined to $1.14 billion, or $1.32 a share, from $1.4 billion, or $1.59, a year earlier, the Petach Tikva, Israel-based company said in a statement today. Analysts predicted $1.33, the average of 24 estimates compiled by Bloomberg. Teva raised its quarterly dividend 15 percent.