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MEDICAL
Teva beats Q1, backs '03 outlook
The Israeli generic drug firm made 50 cents a share, 4 cents over views and 56% vs. last year. Sales rose 39% to $757.4 mil, the 3rd straight quarter of faster growth. Teva backed its "rosy" full-year forecast of $1.85-$1.90 on sales of $3 bil. Analysts see more. It has 61 drugs in the pipeline, the most of any generic firm. It's also eyeing acquisitions in the U.S. and India. Teva fell 4%.
HealthSouth fails to get waivers
The rehab clinic operator, which inflated earnings at least $1.4 bil since '99, missed a waiver extension for a debt payment. But the company thinks lenders won't force the firm into bankruptcy until they get clearer financial info, due in late May. Bankruptcy could make it harder to collect. HealthSouth defaulted on a $1.25 bil credit line in March.
** Ex-HealthSouth CFOs Michael Martin and Tadd McVay pleaded guilty to charges of fraud, conspiracy and filing false financial reports. All five CFOs have admitted guilt.
** Techne made 30 cents a share, up 20% and 3 cents over Q3 views. Sales rose ...