On-Track for 2012 says Teva Pharmaceuticals; EU Charges Weaken Shares

Teva Pharmaceuticals (NASDAQ:TEVA) posted in-line Q2 earnings this morning, although TEVA is trading down 2%. With EPS of $1.28 and 19% revenue growth for the quarter, the company maintains its 2012 expectations. Earnings per share in the second quarter of last year were $1.10. The company also announced this morning the addition of Dr. Carlo De Notaristefani as President and CEO of Global Operations, and Aharon (Arik) Yaari as the Executive VP to the newly created organization, Community and Institutional Affairs. The new organization will administer to philanthropic, social responsible, and academic relations for Teva. Investors are somewhat disappointed with the quarter, however the slight share decline should rebound shortly as the company has high expectations for next quarter and 2012 as a whole. Investors are also concerned with the EU’s allegations that TEVA is one of a few companies involved in blocking generic perindopril from coming to market.