IBI Investment House analyst Natali Gotlieb says that Teva Pharmaceutical Industries Ltd's (Nasdaq: TEVA; TASE: TEVA) financial report for the first quarter of 2010 was good as expected, and was very good for a first quarter.. The excellent financials are the opening shot for a great year.
Gotlieb says that the interesting point in the financials was Teva's sales growth in Europe, which was fairly weak in preceding quarters, under the influence of the economic crisis. UK sales were especially hard hit, with lesser damage in other countries.
Gotlieb says, "We believe that there is potential for continuation, since an economic crisis generally leads in Europe to reforms that will increase the use of generic drugs. Teva, the day after closing the Ratiopharm deal, is Europe's largest generic drug maker, and will benefit from this potential."
Gotlieb adds that Teva's original multiple sclerosis treatment Copaxone will continue to pull the company's sales upwards.
Published by Globes [online], Israel business news - www.globes-online.com - on May 4, 2010
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