Globes: Strong growth at Teva as Yanai era ends
9 May 12 09:33–Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) reported strong growth in revenue and profit for the first quarter of 2012, as CEO Shlomo Yanai left the company today.
Teva reported net revenue of $5.1 billion, up 25% from $4.1 billion in the corresponding quarter of 2011. Non-GAAP profit was $1.3 billion ($1.47 per share) up 39% from $900 million (1.04 per share) in the first quarter of 2011.
Teva president and CEO Shlomo Yanai said, “After five extremely rewarding years as Teva’s CEO, I will be stepping down today. It has been an immense privilege to lead Teva’s outstanding global team through such an exciting period. Together we turned Teva into a highly diversified global pharmaceutical company, with an expanded geographical footprint and additional lines of business. Over the last few months I have had the great pleasure of working closely with my successor, Dr. Jeremy Levin, to ensure a smooth transition. I am very confident that Jeremy will lead Teva to even new heights and I wish him every success.”…Read More>>
