Teva Pharmaceutical Industries ($TEVA) is the biggest fish in today's earnings pond. The generics giant--which now has a sizable footprint in branded drugs thanks to its Cephalon buyout--met expectations on profits and sales, but didn't excite anyone in the process. Meanwhile, a gaggle of smaller pharmas let their second-quarter results fly. Here are the highlights:
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Teva's Q2 profits rose 50% to $863 million, thanks to new generics launches in the U.S., strong growth in Copaxone sales, and the addition of Cephalon's branded-drug revenues. The acquisition of Japan's Taiyo Pharmaceutials helped bump rest-of-the-world sales by 30%, while Europe's results were flat. Teva reaffirmed its full-year guidance. Release | Report
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Valeant Pharmaceuticals ($VRX) posted a loss for the quarter as acquisition costs--including severance pay--came home to roost. CEO Michael Pearson said integration costs would shrink over the next few quarters even as it brings newly purchased companies on board. "With many of these acquisitions we did not acquire manufacturing faciltiies and/or people, so restructuring cash costs ... should continue to decline," he said. Report
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Takeda Pharmaceuticals posted a 12% increase in revenues to 398 billion yen ($11.93 billion) and an earnings increase of 16%, aided by a one-time tax refund. The company still expects its full-year operating profits and revenue to come in at 160 billion yen ($2.05 billion) and 1,550 billion yen ($19.8 billion), respectively. Report
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Onyx Pharmaceuticals' ($ONXX) preparations to launch its new multiple myeloma drug Kyprolis pushed it deeper into the red this quarter. The company lost $106 million on $72.7 million in revenues. Report
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Hungary's Richter boosted profits by 33.7% as sales grew by 11.9% to 84 billion forints ($365 million). Exports grew, but its domestic sales continued to lag. Report
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Auxilium ($AUXL) reported a surprise profit of $7.7 million, on growing sales of its Testim testosterone gel and its Xiaflex treatment, for a hand condition called Dupuytren's contracture. The company raised its full-year Testim expectations to $245 million. Report