Teva 4Q Profit Rises 9 Percent
Tuesday February 28, 8:01 am ET
Teva Pharmaceutical Quarterly Profit Rises 9 Percent on Strong Sales of Multiple Sclerosis Drug
NEW YORK (AP) -- Teva Pharmaceutical Industries Ltd., the world's largest maker of generic drugs, said Tuesday that its fourth-quarter profit rose 9 percent driven by sales of its branded multiple sclerosis treatment Copaxone.
Net income for the Israeli company grew to $304.9 million, or 45 cents per share, from $278.8 million, or 41 cents per share, a year ago. Revenue rose 6 percent to $1.4 billion from $1.32 billion last year, with sales of Copaxone up 24 percent to $323 million.
Sales of pharmaceuticals in North America totaled $776 million, up about 1 percent from a year ago, although sales of generic drugs in the region were essentially flat.
Analysts surveyed by Thomson Financial expected earnings per share of 43 cents on revenue of $1.42 billion.
For all of 2005, the company posted net income of $1.07 billion, or $1.59 per share, up from $331.8 million, or 50 cents per share, last year. Revenue rose 9 percent to $5.25 billion from $4.8 billion. Analysts forecast earnings per share of $1.57 on revenue of $5.28 billion. |
