Thursday, February 08, 2007 5:37:32 AM
Market is worried about Teva's guidance for 2007, says IBI
08.2.07 | 12:11 By Nathan Sheva
On Tuesday Teva Pharmaceuticals (TASE, Nasdaq: TEVA) will be publishing its results for the fourth quarter of 2006. Although it had a terrific year, its share price sank by 33%, in part because of anticipation that growth in 2007 will be slower. Teva already stated back in the third quarter that it expects single-digit growth this year, but this year its stock has rebounded by 14% nonetheless, partly due to expectations that 2008 will be better.
Israel Brokerage & Investments chief analyst Elah Alkalay is not expecting any surprises in the fourth-quarter statement. Its guidance for the year 2007 will be key, she believes: a Teva forecast above or below the Wall Street consensus will have a strong effect on its share price.
That consensus is presently that Teva will be reporting $8.89 billion sales in 2007, and earnings per share of $2.16 per share.
Regarding the last quarter, IBI predicts $2.44 billion in sales and net profit of $483 million, or 50 cents per share.
For the first time, Teva will be releasing information on Copaxone sales together with its financial statement. Usually the company preannounces the performance of Copaxone, its proprietary treatment for relapsing/remitting multiple sclerosis.
IBI believes that fourth-quarter sales of the drug will have grown 16% to $374 million in 2006.
http://www.haaretz.com/hasen/spages/823635.html
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