Teva surges ahead
pharmafile | February 9, 2011 | News story | Sales and Marketing |Â Â 2010 pharma results, Copaxone, Teva, Teva PharmaceuticalÂ
Generics giant Teva enjoyed a strong year of growth in 2010, lifted by the acquisition of Ratiopharm, patent expiries of blockbuster drugs, and the success of its own patent-protected drug Copaxone.
The Israel-based company was already the world’s biggest generics company, but the acquisition of Ratiopharm last March for nearly $5 billion helped consolidate its position further.
Teva also saw its sales rise as it exploited the patent expiry of a number of top-selling drugs in global markets, including Effexor XR (venlafaxine) and Pulmicort Respules (budesonide)
The firm also has a handful of its own patent-protected products, foremost among these being MS treatment Copaxone, up 17% on the previous year to $3.3 billion.
“2010 was a great year for Teva, a year in which we delivered record-breaking results across all our geographies while strengthening and expanding our global leadership,” said Shlomo Yanai, Teva’s president and chief executive.
“During 2010 Teva became the generics leader in Europe and increased our presence in key emerging markets. This was also an exciting year for our branded business, where we made excellent progress in developing a robust and promising pipeline of branded products.”
Teva says it currently has 206 product applications awaiting final FDA approval, the vast majority of these being generics. It says the collective value of the brand products covered by these applications had annual US sales of over $121 billion.
Its potential products include 134 “Paragraph IV” applications challenging patents of branded products. Teva believes it is the first to file on 80 of the applications, relating to products with annual US branded sales exceeding $55 billion.
Sales in Europe increased 21% compared to 2009, reaching $3.9 billion, due mainly to the consolidation of Ratiopharm’s results, which commenced in August 2010. In local currency terms, sales in Europe grew approximately 26% compared to 2009. This increase in sales resulted from strong generics sales throughout the region (mainly in Germany, Spain, Italy, Poland and France), as well as increased sales of Copaxone.
Andrew McConaghie
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