Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) announced on Friday, in conjunction with the release of the Sanofi-Aventis group's financial results, that global in-market sales of it multiple sclerosis treantemnt Copaxone reached a record $329 million in the first quarter of this year.
According to Teva, Copaxone was the fastest growing multiple sclerosis therapy worldwide, with a growth of 29% in sales over the comparable quarter of 2005.
US sales in the first quarter were 36% higher than in the first quarter of 2005, and amounted to $221 million.
Teva reported that, according to IMS data in the US, Copaxone continued to strengthen its position as market leader, reaching market share of 33.9% for all prescriptions and 34.9% for new prescriptions in March 2006.
Sales outside the US during the quarter, mainly in Europe, increased by 17% over the comparable quarter of 2005, to $108 million.
Copaxone is Teva's only blockbuster drug, that is with annual sales of over $1 billion.
Teva shares closed at $43.51 in New York on Friday, giving the company a market cap of $27 billion. On the Tel Aviv Stock Exchange this morning, Teva shares are down 0.62%, at NIS 193.70.
Published by Globes [online], Israel business news - www.globes.co.il - on May 7, 2006
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