UPDATE 1-Teva CFO: 2010 rev f’cast still about $16 bln

(Updates with Teva denial)

JERUSALEM, June 2 (BestGrowthStock) – Teva Pharmaceutical Industries
(TEVA.O: ) (TEVA.TA: ) said on Wednesday that it still expects to
post revenue of about $16 billion in 2010.

A Teva spokesman denied a report on Israeli financial news
website Calcalist which quoted Teva chief financial officer Eyal
Desheh as saying revenues would be below the company forecast of
$16 billion, due to the dollar’s recent rise against the euro.

Calcalist itself later updated its coverage of Desheh’s
remarks to say that Desheh had told an investor conference in
London that sales this year would be around $16 billion.

The Teva spokesman said that Desheh had further added that
Teva’s bottom line would also not be affected by the euro’s
slide to a four-year low versus the dollar.

In February, President and CEO Shlomo Yanai forecast revenue
of around $16 billion but added that this was sensitive to
exchange rate volatility.

A month ago Teva reiterated it expected 2010 revenue of $16
billion and earnings per share of $4.40-$4.60, excluding one-off

Calcalist also quoted Desheh as saying that Teva wants to
expand in China, where its sales are low.

“Our plans are to break into the Chinese market,” Desheh
said. “It is very challenging and we are looking for and
investing a lot of effort to understand the proper way to do
this. The generics market in China is growing very fast.”

Teva in March said it would buy Germany’s Ratiopharm for 3.7
billion euros in a bid to expand into the German generics


(Reporting by Steven Scheer and Tova Cohen; editing by Alastair

UPDATE 1-Teva CFO: 2010 rev f’cast still about $16 bln