Teva sees Q1 revenue of $5B

JERUSALEM — Teva Pharmaceutical Industries last week announced results for first quarter 2014 ended March 31. The company reported revenues of $5 billion, which is up 2% when compared to first quarter 2013. Additionally, Teva reported Non-GAAP net income of $1 billion, an 8% increase and GAAP net income of $744 million, an increase of 18%. 

The company also cited the launch of Copaxone as a milestone, which is set to achieve 30,000 patients on therapy by the end of the month and 40,000 patients by the end of the year. Generic medicine revenues in the United States increased by 17%.

“We are pleased with the quarter’s results. Patients benefited from several significant generic and specialty medicine launches, most notably our Copaxone 40-mg in the United States. Our global generics business delivered increased profitability, and our U.S. generics revenues were up 17% year-over-year,” said Erez Vigodman, president and CEO of Teva.

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