Teva’s modest sales growth driven by MS treatment

pharmafile | August 4, 2005 | News story | Sales and Marketing  

Teva Pharmaceuticals, the world's number one generics manufacturer, has posted modest second quarter results driven by its patent-protected multiple sclerosis treatment Copaxone.

Copaxone's sales leapt by nearly 30% to just under $300 million in the second quarter and compensated for lower sales of Teva's generics drugs in the US.

Overall, Teva's second quarter sales were just under $1.25 billion, up 4% on last year.

The Israeli-based company recently regained its status as number one seller of generics after its purchase of US firm Ivax for $7.4 billion.

Novartis' generic subsidiary Sandoz had temporarily taken over market leadership after it acquired Germany's Hexal and Eon Labs of the US for $8.3 billion earlier this year.

Teva's second quarter performance was in line with expectations and the company's chief executive Israel Makov said it illustrated the robustness of its business model.

"The temporary lack of opportunities for product launches in 2005 in general and in this quarter in particular in our largest generic market, the US, was offset by strong performances in all our other business, leading to continued profitable growth, though modest, over the exceptionally strong comparable quarter in 2004," added Makov.

Teva's performance in the US was hit by increased competition to several of its leading generic products.

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