Teva Pharmaceutical Industries Limited · TASE:TEVA
Teva Pharmaceutical Industries — Q2 2010 Earnings Presentation
20 slides from Teva Pharmaceutical Industries's earnings presentation, Jul 27, 2010
Slide 1: Analyst Meeting Presentation – Q2 2010 and First Half 2010 Results
1 Analyst Meeting Presentation – Q2 2010 and First Half 2010 Results Shlomo Yanai, President & CEO Eyal Desheh, CFO July 27, 2010
Slide 2: Forward looking statements
Forward looking statements 2 TODAY’S PRESENTATION CONTAINS FORWARD-LOOKING STATEMENTS, WHICH EXPRESS THE CURRENT BELIEFS AND EXPECTATIONS OF MANAGEMENT. SUCH STATEMENTS INVOLVE A NUMBER OF KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES THAT COULD CAUSE OUR FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS TO D
Slide 3: Q2 2010 – strong results
Q2 2010 – strong results 3 Q2/09* Q2/10* Change Sales 3,400 3,800 +12% $m Operating income 981 1,201 +22% $m Net income 742 981 +32% $m EPS 0.83 1.08 +30% $ Free cash flow 376 700 +86% $m * Net income, operating income and EPS are non GAAP results
Slide 4: H1 2010 – strong results
H1 2010 – strong results 4 H1/09* H1/10* Change Sales 6,547 7,453 +14% $m Operating income 1,807 2,203 +22% $m Net income 1,376 1,811 +32% $m EPS 1.54 1.99 +29% $ Free cash flow 846 1,257 +49% $m * Net income, operating income and EPS are non GAAP results
Slide 5: Q2 2010 highlights
Q2 2010 highlights 5 Strong • Strong organic growth – 12% QoQ Financial • EPS crossed the $1 mark – $1.08 Results • Strong Free Cash Flow – $700 million; 86% QoQ Balanced • U.S. – Strong growth; record generic sales (14% QoQ) Business • Europe – 10% growth in local currency Model • Growth in all bra
Slide 6: Copaxone – leading MS globally
Copaxone® – leading MS globally 6 Global in market sales, $ million Non-U.S. U.S. +25% +13% 2,826 774 +26% 682 2,262 908 +3% 243 243 1,713 884 1,414 619 498 +39% 1,917 531 438 1,378 1,094 916 - 2006 2007 2008 2009 Q2/09 Q2/10 * Due to rounding, numbers may not add up.
Slide 7: Copaxone and MS competitive landscape
Copaxone® and MS competitive landscape 7 Continued Continued solid growth: 13% QoQ performance Record US share: 39.7% TRxs / 38.4% NRxs Copaxone SONG - low dose Copaxone – FDA action date: 01.01.11 improvements GALA - 3x / week 40 mg - began recruiting in Q2 2010 Oral Inferior safety profile therapi
Slide 8: Teva Branded – multifaceted approach & expertise
Teva Branded – multifaceted approach & expertise 8
Slide 9: Teva Branded – multifaceted approach & expertise
Teva Branded – multifaceted approach & expertise 9
Slide 10: Loaded innovative pipeline
Loaded innovative pipeline 10 TV-1101 (OGX-011) (Phase III) Prostate Cancer 1st line Innovative Copaxone® Multiple Sclerosis TV-1101 (OGX-011) (Phase III) Prostate Cancer 2nd line Azilect® Parkinson’s TV-1101 (OGX-011) QVAR® Laquinimod – Oral Multiple Lung Cancer (Phase III) Respiratory Inhaled Ster
Slide 11: MegaPack Plant in Debrecen, Hungary
MegaPack Plant in Debrecen, Hungary 11 maximum packaging 10 bn tablets
Slide 12: Opava, Czech Republic
Opava, Czech Republic 12 maximum capacity 7 bn tablets
Slide 13: New logistics center, Shoham, Israel
New logistics center, Shoham, Israel 13 Inauguration December 2010
Slide 14: Q2 2010 – strong financial results & margins
Q2 2010 – strong financial results & margins 14 Q2/09* Q2/10* Change Sales ($m) 3,400 3,800 +12% Operating income ($m) 981 1,201 +22% Net income ($m) 742 981 +32% EPS ($) 0.83 1.08 +30% Cash flow from operations ($m) 658 954 +45% Gross margin (%) 58.5 59.0 Operating margin (%) 28.9 31.6 Net margin (
Slide 15: Q2 – three year trend
Q2 – three year trend 15 All figures in millions $, except EPS Sales +12% Gross +13% Operating +22% Net +32% EPS +30% profit profit income 981 1.08 1,201 3,800 2,243 3,400 1,988 981 742 0.83 0.72 2,823 1,543 593 683
Slide 16: Q2 2010 – exchange rate effect
Q2 2010 – exchange rate effect 16 $ million Q2 Q2 FX Real Growth 2010 2009 effect growth Total sales 3,800 3,400 +12% -52 +13% Operating profit 1,201 981 +22% +8 +23% North America 2,467 2,108 17% +15 16% Europe 811 777 4% -45 10% International 522 515 1% -22 6%
Slide 17: Quarterly cash flow
Quarterly cash flow 17 $ million 1,025 +45% 957 954 195 886 90 179 164 164 Cash from operations 126 658 141 Net asset purchase 165 148 Dividends distributed 134 +86% 704 637 700 557 Free cash flow 376 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010
Slide 18: Financial leverage
Financial leverage 18 $ bn 26.3 24.8 24.8 25.0 5.6 5.4 7.0 19.5 8.4 Debt 4.7 19.2 19.6 19.3 Equity 14.8 16.4 Sep Dec Dec Mar Jun 08 08 09 10 10 Leverage 24% 34% 23% 22% 27%
Slide 19: Consolidated balance sheet
Consolidated balance sheet 19 June 30, 2010 , $bn ASSETS 12/09 06/10 LIABILITIES 12/09 06/10 Cash & marketable securities 2.5 5.2 ST & LT financial debt 5.6 7.0 Inventories, A/R & other assets 9.9 9.5 SR&A, A/P & other accruals 6.3 6.2 Long-term assets 4.7 4.7 Long-term liabilities 2.6 2.7 Intangibl
Slide 20: TAA PHARRACEITICAL BELETHIEE LTD.
10341] TAA PHARRACEITICAL BELETHIEE LTD.
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