Teva Pharmaceutical has posted strong financials for Q2 2012, aided significantly by products acquired during the company's acquisition of Cephalon.
Company turnover increased by 28% in the US, reaching $2.46bn, as Cephalon products including sleep disorder medication Nuvigil and cancer treatment Treanda boosted sales. Teva acquired the US-based specialty drug manufacturer Cephalon for $6.5bn in 2011
The company's performance in the US marked a stern contrast with that in Europe, as sales remained stagnant at $1.5bn. Teva placed the blame on macro-economic conditions and health care reforms in key European markets, with generic sales falling 12%.
Teva president and CEO Jeremy Levin praised the results, saying: "The US generics business continued to recover with a positive trend, our global branded division experienced strong growth, and our European generics business, while down from last year's second-quarter results due to macroeconomic conditions, showed solid sequential growth from the first quarter."
Outside of Europe and the US, turnover climbed 21% to $1.06bn courtesy of a strong performance within Russia and a boost to sales provided by the acquisition of Japanese pharmaceutical firm Taiyo.
The company will also be buoyed by the performance of its multiple sclerosis treatment Copaxone, which recorded a 12% increase in sales to $982m. Favourable court rulings in the US and UK will ensure the drug's protection from generic competition until September 2015, with the drug widely expected to face competition from oral treatments expected to hit the market.
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