Teva Sales Rise By 28%, Boosted By Cephalon Acquisition
Teva Pharmaceutical Industries announced a solid set of financials for their fourth quarter today.
The financials were enhanced by sales of Teva’s multiple sclerosis drug, Copaxone, and from the contribution of recently-acquired Cephalon, which helped shift Teva further away from its original identity as a generic-drug maker.
Teva’s net income increased by 23% to $1.40 billion, and sales rose 28% to $5.68 billion. Turnover improved 32% in the USA to $3.00 billion, mainly as a result of the addition of Cephalon’s sales.
Cephalon’s sleep disorder drug, Provigil (modanafil), and its long-acting follow-up long-acting drug, Nuvigil (armodafinil), brought in $350 million and $86 million, respectively, while sales of the cancer drug, Treanda (bendamustine), reached $131 million.
Teva Pharmaceuticals, the world’s principal maker of copied medicines, bought Cephalon for $6.5 billion last year in a bid to expand their portfolio of brand-name drugs that have been lead by the multiple sclerosis treatment, Copaxone.
The corporation’s branded business was dominated by Copaxone (glatiramer acetate). The drug contributed $927 million, a growth of 11%, while sales of Azilect (rasagiline) for Parkinson’s disease reached $83 million, an increase of 26%.
Global respiratory revenues were up 27% at $275 million, while Teva’s women’s health business had a turnover of $93 million, which was a drop of 4%. Active pharmaceutical ingredient sales to third parties equalled $197 million, an increase of 9%.
The US business also benefited from the exclusive launch of a generic version of Eli Lilly’s blockbuster antipsychotic Zyprexa (olanzapine), and an agreement with Ranbaxy relating to the commercialisation of a imitator of Pfizer’s Lipitor (atorvastatin).
In Europe, Teva’s sales hit $1.50 billion, signifying a growth of 13%, owed mainly to a rise in generic sales in Spain and Italy. Turnover in the rest of the world improved 44% to $1.10 billion, advanced by the addition of Taiyo in Japan.
Teva’s chief executive, Shlomo Yanai, commented that Teva ended 2011 “on a strong note, despite the challenges we faced during the year”. The results “demonstrate the strength of our balanced business model, with its focus on growth and…on reducing dependence on any one particular market or product,” he added.