Teva Pharmaceutical Q1 profit up, slightly tops estimates

TEL AVIV Thu May 1, 2014 7:17am EDT

TEL AVIV May 1 (Reuters) - Teva Pharmaceutical Industries reported on Thursday higher quarterly earnings that beat analysts' estimates by one cent due in part to the launch of several generic products in the United States.

Teva, the world's largest generic drugmaker and Israel's biggest company, earned $1.22 per share excluding one-time items in the first quarter, compared with $1.12 a year earlier. Revenue rose 2 percent to $5.0 billion.

Teva was forecast to earn $1.21 a share excluding items on revenue of $5.1 billion, according to Thomson Reuters I/B/E/S.

The company maintained its full year 2014 earnings and revenue forecast.

Global sales of its best-selling multiple sclerosis drug Copaxone, which accounts for about 20 percent of sales and 50 percent of profit, edged up 1 percent to $1.07 billion. The injectable drug faces competition from oral treatments as well as cheaper generics in the coming years.

Teva declared a quarterly dividend of 1.21 shekels (34.7 cents) a share, unchanged from the fourth quarter. (Reporting by Tova Cohen)

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