TEVA-
North America sales came in lighter at $1,435M. European were stronger($601M) and other international of $400M (+20% Y/Y; +13% Q/Q - $40M) were above (up from 358M).
Spending was a bit higher than expected: SG&A was $518M (Ivax acquisition) and so was the R&D of $168M (more resources into generic R&D).
On the other hand, the tax rate of 13% was well below last quarters 19% rate.
As for inventory:
"Inventories were up $151 million from June 30th reflecting both, our efforts to improve customer service and the currency's impact."
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