Teva's 4th-qtr income climbs 24% US sales
Fourth-quarter 2007 profits at Israel's Teva Pharmaceutical Industries leapt 24% to $570.0 million, after the firm's generic version of the heartburn medicine Protonix (pantoprazole; made by Wyeth) captured a significant share of the US market. Analysts surveyed by Bloomberg had predicted the Teva would earn $555.3 million in the final quarter of the year.
Sales on both sides of the Atlantic grow
Quarterly revenue was $2.6 billion, up 12%, with North American pharmaceutical sales climbing 15% to $1.44 billion. Teva highlighted the performance of generic products such as oxycodone, amlodipine and famciclovier, as well as the strong showing from branded drugs like Copaxone (glatiramer) and Azilect (rasagiline tablets), as being responsible for its turnover gains in the region.
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