Net Profits Up 11% For Teva In 1995

Israeli firm Teva Pharmaceutical achieved net profits in 1995 of $79.8 million, an increase of 11%. The results for the year, and for the fourth quarter, in which the firm achieved net profits of $19.8 million, rising 4.7%, were affected by a non-recurring item reflecting the Israeli General Health Fund settlement. Teva wrote off $4 million after tax for the settlement. Net income for the year before the write-off grew 17% to $83.8 million, the firm said.

Total sales for 1995 were $667.7 million, up 14%. In the fourth quarter sales advanced 20.1% to 4192.9 million. North American turnover was slower than the group's average as a result of declining prices, due to price competition in both finished dosage forms and bulk pharmaceutical products, which was partially offset by increased quantities. Domestic sales grew 17% to $263 million for the year.

Total pharmaceutical sales for 1995 amounted to $478 million, up 12%. The figure represents 72% of Teva's total revenues.