Teva Profits Increased by US Generic Sales
Teva Pharmaceutical Industries announced solid financials for the second quarter of 2012, improved by sales of their multiple sclerosis drug Copaxone, sturdy generics growth in the US and the contribution of Cephalon’s products.
Net income increased by 50% to $863 billion, while sales grew 19% to $4.99 billion. Turnover climbed by 28% in America to $2.46 billion, assisted by the presence of Cephalon sales, in particular the sleep disorder pill Nuvigil and the cancer medication Treanda reached $148 million.
The American division profited from the launch of four generics in addition to “continued benefits from first-quarter launches which included several medicines that were either exclusive or semi-exclusive or otherwise had limited competition,” Teva noted. These included generics of Eli Lilly’s antipsychotic Zyprexa and Forest’s antidepressant Lexapro.
Teva Pharmaceuticals’ branded drug business was once again lead by Copaxone. The medication took $982 million, a rise of 12%, partly due to Teva recording a first full quarter of sales since gaining back distribution and marketing rights from Sanofi in Europe. The firm also observed that in the quarter there were favourable court rulings in both the USA and UK “which should ensure protection of Copaxone from generic competition until September 2015.”
Across Europe Teva’s revenues stayed the same at $1.47 billion, while turnover in the rest of the world increased 21% to $1.06 billion. The result from the rest of the world was also enhanced by the inclusion of Cephalon and Taiyo in Japan and a strong performance in Russia.
Sales of Azilect for Parkinson’s disease grew to $95 million, up 36%. Global respiratory revenues stayed the same at 209 million, while Teva’s women’s health business had turnover of $112 million, down 6%. Over-the-counter revenues increased 21% to $219 million.