Teva Continues On Growth Plans

Israeli generic drugmaker Teva has released its Q110 financial results, with a year-on-year (y-o-y) gross profit rise of 28% to US$2.01bn. The recent acquisition of German Ratiopharm signalled the drugmaker's intention to diversify its European market base and continue selling high value patented and generic drugs, including its blockbuster MS drug Copaxone (glatiramer acetate). Copaxone sales rose by 28% from Q109, underling a positive start to 2010's net sales of US$3.7bn.

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