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news.Teva Pharmaceuticals has posted good financial results for the third quarter of 2005, helped by strong sales of Copaxone and the launch of fexofenadine, its generic version of Allegra.
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Net income for the third quarter of 2005 was $267 million, an increase of 6% over the third quarter of 2004. Net Sales for the period also increased 6% over the comparable quarter last year to $1.32 billion. Pharmaceutical sales accounted for 89% of total sales in the third quarter.
Sales of Copaxone, the company’s multiple sclerosis treatment, were up to $307 million, 27% up from last year.
“This has been an excellent and eventful quarter for Teva, with strong performances from all of our business units, record-breaking sales of Copaxone, and the highly successful launch of Fexofenadine (generic Allegra),” said Mr Israel Makov, Teva’s president and CEO.
Mr Makov went on to express the company’s excitement over its acquisition of Ivax, which he said is proceeding on schedule.