Generic medicine revenue up 5% for Teva's Q2

JERUSALEM — Teva Pharmaceuticals on Thursday announced results for second-quarter 2014, which included revenues of $5 billion, an increase of 2% compared with the same period last year.

The company reported non-GAAP operating income of $1.4 billion and GAAP operating income of $295 million. Generic medicine revenues saw an increase of 5%, with U.S. generics sales up by 10%; generic profitability is up by 41%.

“We are pleased with the results of second quarter 2014, delivering organic growth in revenues and all profit lines over the comparable quarter last year. Our generic business delivered solid results with significantly improved profitability. In our specialty business, we have successfully converted, to date, 51% of the Copaxone family in the United States to the newly launched Copaxone 40mg/mL, and are continuing to stably lead the global and U.S. relapsing remitting multiple sclerosis market. We also are excited about the progress we are making in our specialty pipeline, which includes, this quarter, the successful launch of DuoResp Spiromax in Europe, the progression toward FDA submission for ER hydrocodone and the FDA acceptance of our albuterol MDPI NDA," stated Erez Vigodman, president and CEO of Teva.

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