Teva sees modest growth as US sales fall
pharmafile | November 3, 2011 | News story | Business Services, Sales and Marketing | Teva, generics
Sales growth at Teva was modest in Q3, rising 2% to $4.34 billion, with growth predominately coming from branded drugs.
This included a 26% growth in sales of its biggest selling branded drug Copaxone, for treatment of multiple sclerosis, which made the firm just over $1 billion for the quarter. Around a third of Teva’s total sales now come from patented medicines, with the rest coming primarily from generics.
Patented respiratory product sales totaled $238 million in the quarter, an increase of 15%, primarily driven up by impressive growth in the US.
Women’s health products and Parkinson’s disease drug Azilect also achieved growth of 6% and 20% respectively.
Exchange rate changes also played a part and added $148 million to sales, largely due to the strength of the euro compared to the dollar.
Teva has added to its patented portfolio with the recent acquisition of speciality firm Cephalon, bringing with it oncology, pain and CNS drugs.
But overall growth was slowed by a 48% drop in US sales as the firm failed to launch any new drugs in the country.
Sales in Europe were healthier and grew to $1.3 billion, up 24% in local currencies, coming from its recent acquisition of the generic drugmaker Ratiopharm.
Shlomo Yanai, Teva’s president and chief executive said: “The third quarter produced an overall mixed performance: we had strong European and international generic sales, combined with strong results from our branded units.
“This helped to offset our US generics business, which lacked any significant new launches.”
But he added that the firm expects a strong fourth quarter based on the exclusive launch of a generic form of Lilly’s antipsychotic Zyprexa in the US, which lost its patent in the country last month.
Ben Adams
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