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Teva’s 2011 revenues boosted by Cephalon purchase

Addition of Provigil, Treanda and Nuvigil help the generics specialist grow its branded products portfolio

Teva Pharmaceutical Industries' sales rose 14 per cent to $18.3bn in 2011, boosted by the Israel-based generics company's acquisition of Cephalon.

The $6.8bn purchase of the US biopharma in October 2011 brought new treatments that swelled Teva's fourth quarter sales of branded products by 68 per cent.

These included inclusion chronic lymphocytic leukaemia treatment Treanda, which took in $131m during the quarter, and Nuvigil for sleep disorders, which managed sales of $86m.

During the full year Teva made $350m from another sleep disorder drug Provigil, although the company did have to sell off its own generic version before the European Union allowed the Cephalon purchase to go through.

The final quarter boost for branded products help total 2011 sales for the company's branded division grow 34 per cent to $6.49bn.

This compared to $10.20bn the company made from its generic products, although this was also an improvement from the previous year's total of $9.91bn.

This growth was helped by the introduction a generic version of Eli Lilly's Zyprexa onto the US market following its patent expiration in October, 2011.

Teva is also receiving a portion of profits made from sales of Ranbaxy's generic version of Lipitor, which was launched in December, 2011.

Net profit for the company took an expected dip, however, decreasing from $3.33bn to $2.76bn due to extra charges related to the purchase of Cephalon, as well as legal settlements of $225m.

Excluding such one-off costs, the company made $4.44bn in 2011 compared to $4.13bn in 2010.

“I am pleased to report that Teva ended 2011 on a strong note, despite the challenges we faced during the year,” said Shlomo Yanai, Teva's president and CEO.

“Our results demonstrate the strength of our balanced business model, with its focus on growth and increasing diversity across geographies and business lines.”

16th February 2012

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