Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) lowered its guidance for 2012 on reduced expectations for generic drug sales in the U.S. and Europe, as well as softer sales of some branded offerings.
The world's biggest manufacturer of generic drugs now expects per-share earnings of $5.30 to $5.40 on net sales of $20 billion to $21 billion. The Israel company in December had projected per-share earnings of $5.48 to $5.68 on revenue of $22 billion.
The company reduced its outlook for generic drugs to $10.7 billion from its prior view of $11.8 billion. U.S. generic sales are pegged at $4.6 billion, down from $5 billion. Europe sales are seen at $3.4 billion, compared with a prior estimate of $4 billion.
The reduced forecast for branded drugs includes its outlook for leukemia drug Treanda and its women's health products.
Teva recently reported its first-quarter profit jumped 41%, as strong sales of branded and generic medicines in the U.S. and emerging markets offset a weak performance in Europe.
The company's American depositary shares were up 1.4% at $39.10 in premarket trading after trading around $39.50 earlier.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com