Teva quarterly net profit down on CoGenesys charge
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| Posted
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Tue, 06 May 2008 06:43:04 GMT |
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Reuters |
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US (Business) |
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NEW YORK (Reuters) - Teva Pharmaceutical Industries Ltd , the world's largest generic drugmaker, on Tuesday reported a drop in its first-quarter net profit, weighed by a charge tied to its acquisition of CoGenesys.Quarterly net income at the Israel-based company was $147 million, or 18 cents per share, compared with $342 million or 42 cents per share a year earlier.On an adjusted basis, which excludes the CoGenesys charge, Teva said it earned 64 cents a share in the quarter.Sales rose 24 percent to $2.57 billion.(Reporting by Aarthi Sivaraman)
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