Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) reported a record $3.802 billion in net sales for the fourth quarter, in its financial report which it reported this morning. The figure is 33% higher than the $2.85 billion recorded in the corresponding quarter of 2008.
Teva's earnings per share slightly missed analyst estimates. On a non-GAAP basis, net profit for the quarter was $847 million ($0.94 per share). Analysts had expected $0.95 per share.
Global in-market sales of Copaxone of $2.8 billion for the full year were 25% higher than 2008.
For the full year of 2009, sales reached $13.9 billion, 25% more than in 2008. Teva said that changes in exchange rates added about $98 million to the sales figures in the fourth quarter.
North America sales in the fourth quarter were $2.32 million, 35% higher than in the corresponding quarter of 2008. North America accounted for 61% of Teva's total sales. During the quarter, Teva launched generic versions of Prevacid Delayed-Release, Allegra-D 12 Hour, and relaunched Pulmicort Respules.
As of February 5, 2010, Teva had 216 product applications awaiting final FDA approval, including 43 tentative approvals. The branded products covered by these applications had total annual US sales of over $113 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on February 16, 2010
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