The above graph indicates the revenue from Teva’s OTC business and other segments since 4Q14. The OTC segment has been showing growth since 2Q15 after revenue performance deteriorated in 1Q15.
In 3Q15, PGT’s in-market sales accounted for $381 million in revenues, an increase of $9 million compared to 3Q14. The increase was mainly due to volume and price increases in most countries offset partially by foreign exchange currency fluctuations. PGT’s in-market sales consist of the combined OTC portfolios of Teva and Procter & Gamble outside North America.
According to Teva, the biggest challenge for its OTC segment is foreign exchange fluctuations. It generates all of its revenue in non-US dollars and then reports back in US dollars.
Teva also distributes third-party medical products, mainly in Israel and Hungary. Revenues from this segment in 3Q15 stood at $188 million, a decrease of 16% compared to 3Q14. The decrease was mainly due to the currency impact and discontinuation of the distribution agreement with Sanofi (SNY) in Israel.