Teva sees Q1 revenue of $5B
JERUSALEM — Teva Pharmaceutical Industries last week announced results for first quarter 2014 ended March 31. The company reported revenues of $5 billion, which is up 2% when compared to first quarter 2013. Additionally, Teva reported Non-GAAP net income of $1 billion, an 8% increase and GAAP net income of $744 million, an increase of 18%.
The company also cited the launch of Copaxone as a milestone, which is set to achieve 30,000 patients on therapy by the end of the month and 40,000 patients by the end of the year. Generic medicine revenues in the United States increased by 17%.
“We are pleased with the quarter’s results. Patients benefited from several significant generic and specialty medicine launches, most notably our Copaxone 40-mg in the United States. Our global generics business delivered increased profitability, and our U.S. generics revenues were up 17% year-over-year,” said Erez Vigodman, president and CEO of Teva.
NACDS attends White House reception as recognition of pharmacy’s value reaches new heights
WASHINGTON — Representatives of the National Association of Chain Drug Stores were among those invited to a May 1 reception — attended by President Obama and the First Lady — to thank those who worked to smooth the experience of patients with the transition to exchange-based insurance at the beginning of this year.
On May 1, NACDS representatives attended a reception at the White House to recognize those who helped to educate patients during the transition to exchange-based insurance
As quoted in an article in Politico, a White House official described attendees at last Thursday’s event as “the broad and diverse group of stakeholders who helped to enroll Americans in quality affordable health plans, and get information out about their healthcare options, including consumer groups, techies, pharmacies, hospitals, athletes, celebrities, mayors and other local elected officials and community leaders.”
In the weeks leading up to Jan. 1, NACDS and member companies worked closely with the Administration to “war-room” and to confront potential obstacles for the newly insured and for those adjusting to new coverage. In late 2013, NACDS participated in White House meetings and calls to help coordinate amid the changing landscape. NACDS has emphasized the importance of putting patients first and helping them understand the implementation of the Affordable Care Act.
A column written by NACDS president and CEO Steve Anderson in September 2013, said, “When it comes right down to it, patients will have questions about health care, and they will expect and hope that their pharmacies will have at least some of the answers. Living up to that trust is just part of what pharmacies are.”
While pharmacy’s commitment to patient care has long served as a hallmark of the industry, the level of recognition of pharmacy’s value is reaching new heights, NACDS stated.
Mylan reports $1.7B in total revenue for Q1
Pittsburgh — Mylan last week announced financial results for the three months ended March 31, 2014. The company reported adjusted diluted earnings per share of $0.66, compared to $0.62 for the same period last year, representing a 6% increase. Total revenues came in at $1.7 billion, compared to $1.6 billion for the same prior year period, an increase of 5%.
"Mylan’s performance during the first quarter slightly exceeded our expectations and marked a great start to what we believe will be another good year. Our operations in India drove strong top-line growth as a result of increased sales from our antiretroviral franchise," said Mylan CEO Heather Bresch. "Additionally, the diversity and strength of our product portfolio in North America demonstrated our ability to continue to leverage our operating platform. We remain confident in our outlook for the rest of 2014, and we are reaffirming our full-year guidance, including the adjusted diluted EPS guidance range of $3.25 to $3.60."
John Sheehan, Mylan’s CEO, commented further on the company’s performance during first quarter 2014. "We were able to triple our adjusted operating cash flow to more than $280 million from the same period of the prior year," Sheehan said. "Our ability to generate strong operating cash flow continues to add to our financial flexibility and provides us the ability to execute on opportunities that create value for our shareholders."