Israeli generic-drug giant Teva Pharmaceutical Industries Ltd. reported a 22% rise in first-quarter sales to $3.15 billion, helped by the acquisition of Barr Pharmaceuticals Inc. last year.
The company said the integration of Barr was proceeding ahead of schedule and it expects to derive more value from the acquisition than previously thought.
President and Chief Executive Shlomo Yanai said the strong first-quarter performance "makes us very optimistic about the remainder of 2009."
Net income tripled to $451 million from $139 million last year. Excluding items, primarily from the Barr acquisition, profit rose 4.3% to $634 million.
Teva's sales were helped a 15% rise in sales of its multiple-sclerosis drug Copaxone to $621 million, and strong sales of respiratory products and products from Barr's women's health operation.
In the U.S., which accounts for 62% of pharmaceutical sales, Teva's revenue rose 36% to $1.86 billion.
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