Teva Posts $452 Million Loss for Second Quarter

Settlement of patent infringement lawsuit with Pfizer drags down what was an otherwise profitable quarter with company revenue of $4.92 billion falling just shy of analysts' forecasts.

Teva Pharmaceuticals declared a $452 million loss for the second quarter of 2013 due to $1.6 billion compensation the company must pay Pfizer for patent infringement in its quarterly earnings report issued Wednesday. Teva had to take a one-time charge of $1.5 billion to make the payment, leading to the quarterly loss equivalent to $0.53 per share.