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The resignation of the CEO has had a

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investora2z   Friday, 11/01/13 07:01:18 AM
Re: None
Post # of 3527 
The resignation of the CEO has had a severe negative impact. Coming just before the earnings, the impact was exaggerated. The volumes were huge and the stock fell from the higher end to the lower end of its existing range ($36-42) within one session. The earnings did not come in that bad. The revenues were a bit above estimates at $5.1 billion, and the EPS came in at 84 cents. The cash declined to $1.148 billion from $1.245 billion in Q2'13. The management guidance for the full year 2013 is for revenues between $19.7 and $20.3 billion, and the Non-GAAP diluted EPS in the range of $4.95 to 5.05. This confirms a static topline and declining profits for 2013 compared to 2012. A couple of articles on seekingalpha have expressed positive sentiments for the long term future of the company. They expect the company to improve the margins due to the spending cuts. The annual savings are expected to be around $1 billion by end of 2014, and $2 billion by the end of 2017. The stock is expected to reach $50 in 2015 and $60 in 2017. Considering the existing dividend yield, the returns are reasonably good. However, there are stocks with higher growth prospects, and for Teva, there is a huge uncertainty related to the its main drug Copaxone. 2014 & 2015 could be tough years due to declines in sales of Copaxone. The management is confident of doing well with other launches. The stocks owned by Dr. Frost have done extremely well, and he works with his other companies to explore synergies. e.g. he could explore the possibility of Biozone's (BZNE) proprietary drug delivery system QuSomes to help generic drug manufacturers reduce manufacturing costs. The technology is already being tested by OPKO Health (OPK). For Teva, the immediate target is to hunt for a new CEO and assure the investors that all is well.

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