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News ID: 9207
Publish Date: 14 February 2016 - 08:26
Revenue fell 6% and profit was down 1% in the fourth quarter as global Copaxone sales fell 14%.
 Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) reported lower revenue and profit in the fourth quarter of 2015 due to lower Copaxone sales and foreign currency fluctuations.

Teva's revenue in the fourth quarter of 2015 was $4.9 billion, down 6% from the corresponding quarter of 2014. Excluding the impact of foreign exchange fluctuations, revenues declined 1%. Non-GAAP net profit was $1.1 billion, down 1% from the fourth quarter of 2014. GAAP net profit was $500 million in the fourth quarter of 2015, down from $687 million in the fourth quarter of 2014.

Excluding the impact of the December 2015 equity offerings, non-GAAP diluted EPS was $1.32, compared with $1.33 in the fourth quarter of 2014. Quarterly Non-GAAP diluted EPS was $1.28. GAAP diluted EPS was $0.55 in the fourth quarter of 2015, compared with $0.80 in the fourth quarter of 2014.

Now facing generic competition, lower sales of multiple sclerosis treatment Copaxone was finally felt in the fourth quarter with global sales of $960 million, down 14% from $1.12 billion in the fourth quarter of 2015.

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