Global generics company beats estimates... Israeli generics giant Teva Pharmaceutical Industries Ltd. (TEVA) of Petach Tikva, beat estimates by 6 cents today. Revenues rose 39% year over year to $1.05B. The Company sees Y04 EPS of $2.7-2.74 on revenues in excess of $4.5B, vs. $4.38B consensus. Teva is headquartered in Israel but close to 90% of its sales are in North America (65%) and Europe (25%). The Company has approximately 13,000 employees worldwide and operates production facilities in Israel, North America, Europe and Mexico. The Company has two operating segments, Pharmaceuticals and Active Pharmaceutical Ingredients. It has a market cap of $17B and trades at a P/E of 21. It’s revenues for 2003 were $3.28B or $11.11 per share, making it one of the largest generic pharmaceutical companies in the world. It recently completed the acquisition of Sicor (formerly SRCI), a generics company with manufacturing facilities in the U.S., Europe and Mexico, and corporate headquarters in Irvine, CA.
