Teva Pharma's Net Income Up 25% For 3rd Qtr

Israel's leading drugmaker, Teva Pharmaceutical, reports a 25% upturn in third quarter income at $17.5 million, or $0.32 per American Depository Receipt, up 23%. Net income for the first nine months reached $52.7 million, a rise of 26% over the comparable 1993 period.

Sales for the third quarter of 1994 increased 13% to $143 million, and sales for the first nine months reached $427 million, a rise of 15%. The improved sales and profits were achieved despite price erosion of generic products in the USA and the lack of introduction of new products to the market, through substantial increases in the volume of products sold.

Sales outside Israel amounted to $91.1 million in the third quarter, accounting for 64% of total turnover. The comparable figures for the nine months were $283.9 million or 62% of sales. US pharmaceutical sales increased 29% to $59 million in the third quarter and 25% to $170 million in the nine months. The generic pharmaceutical market in the USA, which constitutes most of the company's pharmaceutical business, is its largest market segment.