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How Teva’s Respiratory and Oncology Portfolios Are Positioned after 3Q17

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Respiratory segment revenue trends

Teva Pharmaceutical Industries’ (TEVA) Respiratory segment reported 3Q17 revenues of $351 million, which was ~30% higher YoY (year-over-year) and ~9% higher QoQ (quarter-over-quarter).

From January 2017 to September 2017, or YTD (year-to-date) as of September 2017, the segment generated revenues of $977 million, compared with $946 million during the corresponding period of 2016.

ProAir revenue trends

In 3Q17, ProAir generated revenues of $155 million, which was ~31% higher YoY and 26% higher QoQ. ProAir reported YTD (as of September 2017) revenues of ~$399 million, compared with $426 million during the corresponding period of 2016.

Teva’s ProAir (albuterol sulfate) consists of ProAir HFA (hydrofluoroalkane) and ProAir RespiClick.

QVAR and oncology revenue trends

Teva’s QVAR generated 3Q17 revenues of $95 million, which was ~1% lower YoY and 11% lower QoQ. QVAR reported YTD (as of September 2017) revenues of $300 million, compared with $346 million during the corresponding period of 2016.

In 3Q17, Teva’s Oncology drugs generated revenues of $302 million, which was ~12% higher YoY and 8% higher QoQ. Teva’s Oncology business reported YTD (as of September 2017) revenues of $852 million, compared with $871 million during the corresponding period of 2016.

Treanda & Bendeka revenue trends

Teva’s Treanda and Bendeka generated revenues of $181 million, which was ~21% higher YoY and 11% higher QoQ. Treanda and Bendeka reported YTD (as of September 2017) revenues of $501 million, compared with $511 million during the corresponding period of 2016.

Treanda is used to treat individuals with CLL (chronic lymphocytic leukemia). Treanda’s competition in the CLL drug market includes Johnson & Johnson’s (JNJ) Imbruvica, Gilead Sciences’ (GILD) Zydelig, and Novartis (NVS) Arzerra. In 3Q17, Imbruvica and Zydelig generated revenues of $512 million and $40 million, respectively.

Notably, the Vanguard FTSE All-World ex-US ETF (VEU) has about ~0.05% of its total portfolio holdings in TEVA.

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