Teva venture mulls Japan acquisitions

Teva-Kowa Pharma expects over $1 billion annual revenue by 2015.

Generic pharmaceuticals giant Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) is seeking acquisitions in Japan, according to news agency Reuters.

Reuters said that Teva's Japanese venture Teva-Kowa Pharma expects $270 in sales in Japan in its first year of operations there, and $1.1 billion annually by 2015 - of which 30% will be from rights to drugs that it acquires, and from new acquisitions in the Japanese market.

Teva has always said that new acquisitions are a central growth engine for it, alongside existing operations and major drugs.

Teva is one of the first international pharmaceuticals companies to enter the Japanese generics market.

Teva shares closed yesterday at $53.63, giving a market cap of $48.16 billion.

Published by Globes [online], Israel business news - - on September 28, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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