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Teva expects major respiratory growth

According to company executives, Teva Pharmaceutical is predicting that its respiratory products will bring in about $25bn by 2015

Teva Pharmaceutical is predicting that its respiratory products will bring in about $25bn by 2015, company executives told financial analysts and investors at the company's Respiratory Opportunity Meeting in New York City.

The Israeli company's overall revenue target for 2015 is $31bn.

Teva's global respiratory product sales have almost tripled since the company's 2006 acquisition of the respiratory-focused company Ivax Pharmaceuticals. Respiratory sales are expected to reach $1bn this year and could eventually reach a peak of $5bn, the company said. Teva is already one of the top-five players in the $30bn global respiratory market.

Going forward, Teva has plans to file US and European marketing applications for 10 new products, six of which are new brands, by 2015. Teva, which focuses largely on generics, said it plans to pursue branded respiratory products in the US because of high barriers to approval in the US generic respiratory market.

"One of the key pillars of Teva's long-term strategy is the expansion of our branded business, and our respiratory franchise will play an important role in this growth," Shlomo Yanai, Teva's president and chief executive officer said.

Teva's existing respiratory products include the rescue inhaler ProAir, which treats asthma and COPD, and the corticosteroid QVAR for asthma. 

The company's respiratory presentation came close on the heels of its third quarter results announcement earlier in the week. Third quarter net sales were $4.3bn, up 20 per cent over the same period in 2009. Net income was $1.2bn, or $1.30 per share, up 47 per cent over last year's third quarter.

5th November 2010

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