Teva Pharmaceutical Industries Q4 2005 Earnings Conference Call Transcript (TEVA)

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Earnings Call Excerpt

Teva Q4 2005 Earnings Conference Call Transcript (TEVA)

February 28, 2006

Executives

Israel Makov, President and Chief Executive Officer
Moshe Manor, Group vice President, Global Innovative Resources
Dan Suesskind, CFO
William Marth, President & CEO, Teva Pharmaceuticals USA
George Barrett, Group VP, North America and President and CEO, Teva North America.
Kevin Mannick, Director Investor relations.

Analysts

Rich Silver with Lehman Brothers
Tim Chang with Metaxis Bleischroeder
Dimi Tomsulis, with UBS
Ken Cacciatore with Cowen
Amy Deegans with Susquehanna
Michael Tong with Wachovia Securities
Elliott Wilbur with CIBC World Markets
Randall Fenicki with Goldman Sachs
David Woodburne with Prudential Equity Group
David Licorice with HSBC
David Marris, Bank of America

Presentation

Kevin Mannick, Director Investor relations.

Good morning and good afternoon everyone. Welcome to TEVA’s Q4 and full year 2005 earnings conference call. We hope you’ve all had a chance to review our press release which we issued earlier this morning. A copy of the press release is available on our website at www.tevapharm.com. Additionally, we are conducting a list web cast of this call which is also available on our website.

Today we are joined by Israel Makov, President and CEO, Dan Suesskind, Chief Financial Officer, George Barrett, President and CEO of TEVA North America, Bill Marth, President and CEO of Teva USA, and Moshe Menore, VP of Global Products.

Israel and Dan will begin by providing an overview of our results. We will then open up the call for a question an answer period. Before we begin, I’d like to remind everyone that the safe harbor language contained in today’s press release also pertains to today’s conference call and the web cast. I would like to now turn the call over to Israel Makov, our President and CEO.

Israel Makov, President and CEO.

Thank you Kevin and welcome everyone. And thank you for joining us today in the review of Teva’s results for the fourth quarter and for the year of 2005. We had a great quarter and an excellent year and when we consider our achievements in the context of 2005, I believe we can even . We reached many all time highs in both the quarter and the year. We ended the 4th quarter with records sales of $1.4 billion, supported by strong performances across our company. Our operating profit of $361 million was again a new record, as was our quarterly net profit which reached $305 million. This was a fitting end to a record breaking year for us. Our sales reached an all time high of $5.25 billion. 2005 was the 7th consecutive year in which we hit new sales records and the first year in which we crossed the $5 billion mark.

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