Israeli drugmaker Teva Pharmaceutical Industries has lifted its full-year earning guidance following a positive quarter that saw solid increases in sales and earnings.
The group, which is currently attempting to takeover Mylan in the hope of creating a multi-billion-dollar generic powerhouse, booked a respectable 8% growth in sales (excluding currency effects and the divestment of the US OTC plants) to $5.0 billion.
Non-GAAP gross profit was $3.1 billion in the first quarter of 2015, up 2% from the year-ago period, while operating income rose 11% to $1.5 billion.
Teva raised its earnings per share estimate to $5.05-$5.35 from $5.00-$5.30, but kept sales expectations in the $19-$19.4 billion bracket.
Meanwhile, Sanofi posted better-than-expected results for the first quarter, booking organic sales growth of 2.4% (at constant exchange rates, +12.3% as reported) to 8.8 billion euros ($9.6 billion) and a 1.6% rise in earnings to 1.7 billion euros.
Pharma sales grew 2.2% excluding currency benefits to 7.5 billion euros, despite a 3.2% dip in revenues from its diabetes portfolio as pricing pressures for Lantus in the US pulled the drug’s turnover down 5% to 1.6 billion euros.
The French drugmaker said it continues to expect 2015 earnings per share to be “stable to slightly growing” compared with 2014’s figure (at CER).
Elsewhere, Shire booked a 15% rise in total revenues (at CER, up 11% as reported) to 1.5 billion euros for the first quarter, driven by strong product sales growth of 13% to $1.4 billion, which helped drive a 19% jump in Non GAAP earnings to $683 million, or $2.84 per ADS.
The group says it remains confident in delivering diluted earnings per ADS growth in the mid-single digits in 2015 (high single digit growth on a CER basis).