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Financial Report: Teva 2Q11

Azilect and Copaxone achieve record sales, fueling growth

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Teva 2Q11

2Q Revenues: $4.2 billion (+11%)

2Q Earnings: $576.0 million (-28%)

YTD Revenues: $8.3 billion (+11%)

YTD Earnings: $1.3 billion (-11%)

Comments: Global respiratory product sales totaled $240 million in the quarter, up 9%. Women’s health product sales were $119 million, up 45% driven by Theramex product sales. In-market sales of Azilect reached a record $97 million in the quarter, up 38%, and in-market sales of Copaxone were a record $957 million, up 24%. API sales were $183 million, up 12%. Exchange rate had a positive impact on sales in the quarter of approximately $222 million. Legal charges were $221 million related to settlements for at-risk launches of generic Lotrel and generic Neurontin.

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