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Safi Bello

Allergan, Teva claim top spots in GAAP vs. non-GAAP hall of shame: report

Fierce Pharma ------ Allergan set off alarm bells at the SEC in January, resulting in a scathing letter from the agency about the company’s reporting of “non-GAAP” earnings per share. GAAP, which stands for generally accepted accounting principles, is the reporting standard that public companies are supposed to use, but as a new report from Credit Suisse reveals, Big Pharma companies are bending the rules—and reporting ever-widening spreads between GAAP and non-GAAP results. Credit Suisse tallied up GAAP vs. non-GAAP results for eight large pharma companies following last year’s fourth-quarter reports and spotted an alarming trend: Reported non-GAAP income has been about 64% higher than GAAP income over the last three years. And of the eight companies examined, Allergan and Teva claimed the widest spreads between the two numbers. To get more in depth information click on the picture below to read the article.

Allergan, Teva claim top spots in GAAP vs. non-GAAP hall of shame: report - Read More from Fierce Pharma

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