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news.Teva Pharmaceutical Industries, an Israeli pharmaceutical company, has reported a net income of $451 million, or $0.51 diluted earnings per share, for the first quarter of 2009 compared to $139 million, or $0.18 diluted earnings per share, for the first quarter of 2008.
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Net sales for the first quarter increased 22% to $3.15 billion, compared to $2.57 billion in the first quarter of 2008. The acquisition of Barr contributed to the growth in sales in all of Teva’s geographies, particularly in the US, Russia, Poland, Germany, and Croatia.
Shlomo Yanai, Teva’s president and CEO, said: “The year is off to a very strong start for Teva in terms of both financial results and strategic accomplishments, as we delivered growth throughout our various businesses and geographies. It was an outstanding quarter for our innovative and branded businesses, with record-breaking sales of Copaxone – the global leader among treatments for multiple sclerosis – and excellent sales of our respiratory products and products from Barr’s Women’s Health franchise.
“The Barr integration is proceeding ahead of schedule, and we now believe that we will derive even more value from this acquisition than we originally expected. Teva’s strong performance in the first quarter, despite the foreign exchange effect on our top line, makes us very optimistic about the remainder of 2009.”