(By Balachander) Teva Pharmaceutical Industries Ltd (NASDAQ: TEVA) issued its financial forecast for year ending December 2013, trailing market expectations.
The Israel-based generic drugs developer expects non-GAAP earnings per share (EPS) in the range of $4.85 to $5.15, on net revenue between $19.5 billion and $20.5 billion.
Wall Street analysts, on average, expect EPS of $5.65 on revenue of $20.82 billion.
2013 sales outlook consists of total U.S. net revenue of $10 billion to $10.6 billion, total European revenue of $5.5 billion to $6.1 billion, and total rest of the world net revenue of $3.7 billion to $4.3 billion, Teva said.
The company expects non-GAAP gross profit margin between 59 percent and 61 percent for the next year.
Early November, Teva posted a loss for the third quarter due to a provision for loss contingency of $670 million and impairments of $481 million. Its non-GAAP earnings increased and revenue grew 14.5 percent.
For the year 2012, the company expects non-GAAP EPS between $5.32 and $5.38 on net revenue of $20.1 billion and $20.7 billion. Analysts expect EPS of $5.36 on revenue of $20.36 billion.
American depositary receipts (ADR) of TEVA ended at $40.22 on Thursday.