Courtesy of Benzinga.
Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) provided its current outlook for non-GAAP financial performance for the full year ending December 31, 2012. This outlook is summarized below.
Total net sales of approximately $20-$21 billion, consisting of total U.S. net sales of $10.5 billion, total European net sales of $5.8 billion, and total ROW net sales of $4.2 billion. These figures include the following major business lines: — Generic product (including API) net sales of approximately $10.7 billion, consisting of U.S. generic sales of $4.6 billion, European generic sales of $3.4 billion, and ROW generic sales of $2.7 billion.
— Brand product net sales of approximately $8.0 billion including estimated global net sales of the following products:
— Other net sales, mostly distribution of third party products, of approximately $800 million.
Non-GAAP gross profit margin (which excludes amortization of intangible assets of approximately $1.4 billion) between 59% and 61%.
Net R&D expenses between 6.8% and 7.2% of net sales. This includes clinical support of 30 late stage innovative drug candidate programs.
Non-GAAP selling & marketing expenses (which excludes amortization of intangible assets) between 18% and 20% of net sales. This includes royalties of approximately $400 million.
General and administrative expenses between 5.4% and 6.0% of net sales. Non-GAAP net financial expenses of approximately $350 million. Non-GAAP diluted earnings per share between $5.30 and $5.40. Estimated fully diluted average number of shares between 870 and 876 million. Tax provision on our non-GAAP pretax income between 13% and 14.5%.
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