On Friday, Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), lost -1.73% to $59.19.
Teva Pharmaceutical Industries Ltd., stated results for the quarter ended September 30, 2015.
“This was a transformative quarter for Teva as we continued to deliver on all financial, operational and planned promises. We continue to focus efforts on our pending acquisition of Actavis Generics and the acquisition of Rimsa, while ongoing to bolster our specialty pipeline, especially our late-stage assets, and further evolving our business model to position Teva for long-term, sustainable growth,” stated Erez Vigodman, Tevas President and CEO.
Third Quarter 2015 Results
Revenues in the third quarter of 2015 amounted to $4.8 billion, down 5% contrast to the third quarter of 2014. Not Taking Into Account the impact of foreign exchange fluctuations, revenues grew 3%.
Exchange rate differences (net of profits from certain hedging transactions) between the third quarter of 2015 and the third quarter of 2014 reduced our revenues by $371 million, our non-GAAP operating income by $72 million and our GAAP operating income by $56 million.
Non-GAAP gross profit was $3.0 billion in the third quarter of 2015, down 3% from the third quarter of 2014. Non-GAAP gross profit margin was 61.8% in the third quarter of 2015, contrast to 60.6% in the third quarter of 2014. GAAP gross profit was $2.8 billion in the third quarter of 2015, down 1% contrast to the third quarter of 2014. GAAP gross profit margin was 57.5% in the quarter, contrast to 55.5% in the third quarter of 2014.
Research and Development (R&D) expenditures (not taking into account equity compensation expenses and expenses related to the cancellation of R&D projects in 2014) in the third quarter of 2015 amounted to $356 million, contrast to $357 million in the third quarter of 2014. R&D expenses were 7.4% of revenues in the quarter, contrast to 7.1% in the third quarter of 2014. R&D expenses related to our generic medicines segment amounted to $132 million, contrast to $133 million in the third quarter of 2014. In local currency terms, expenses raised 3% as a result of additional development activities for the U.S. market. R&D expenses related to our specialty medicines segment amounted to $220 million, contrast to $221 million in the third quarter of 2014. In local currency terms, expenses raised 1%, mainly as a result of development costs related to assets attained in the Labrys and Auspex transactions.
Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic, specialty, and other pharmaceutical products worldwide. The company operates in two segments, Generic Medicines and Specialty Medicines.
Shares of Annaly Capital Management, Inc. (NYSE:NLY), declined -0.10% to $9.95, during its last trading session.
Annaly Capital Management, declared that it will release its financial results for the quarter ended September 30, 2015 after the market close on Wednesday, November 4, 2015. The Company will conduct a conference call and audio webcast to discuss the results on Thursday, November 5, 2015 at 10:00 a.m. Eastern Time.
Annaly Capital Management, Inc. owns a portfolio of real estate related investments in the United States. The company invests in various types of agency mortgage-backed securities and related derivatives to hedge these investments; acquires, finances, and manages commercial mortgage loans and other commercial real estate debt, commercial mortgage-backed securities, and other commercial real estate-related assets; and operates as a broker-dealer.
Finally, Shares of Deutsche Bank AG (USA) (NYSE:DB), ended its last trade with 0.22% gain, and closed at $27.95.
Deutsche Bank, has hired Alasdair Warren as its new head of corporate and investment banking for Europe, the Middle East and Africa (EMEA), two sources familiar with the matter said on Monday, according to Reuters.
London-based Warren, a former Goldman Sachs banker and co-head of its financial sponsors coverage across EMEA, will start in his new role next year, one of the sources said, after a period of six-months gardening leave.
Warren, who joined Goldman in 2005 and was named a partner in 2008, was formerly head of equity capital markets (ECM), convertibles and equity derivatives for EMEA.
Deutsche Bank declared on October 29 that it would slash 15,000 jobs, shed assets and streamline its investment bank as new Chief Executive John Cryan starts to implement a deep overhaul aiming to improve returns at Germanys biggest bank. Reuters Reports
Deutsche Bank AG provides investment, financial, and related products and services worldwide. Its Corporate Banking & Securities division engages in selling, trading, and structuring a range of fixed income, equity, equity-linked, foreign exchange, and commodities products.
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