The world’s largest generic manufacturer, Teva Pharmaceutical, has said it expects its respiratory products, including several new drugs, to contribute $2.4bn to its revenue target of $31bn for 2015.

The Israeli company intends to seek US and European approval for a total of ten products, six of them new, by 2015 as it seeks to expand its presence in the respiratory medication market.

Respiratory products sales have nearly tripled for the company since its 2006 acquisition of Ivax Pharmaceuticals, with Teva expecting sales to reach $1bn this year.

“One of the key pillars of Teva’s long-term strategy is the expansion of our branded business, and our respiratory franchise will play an important role in this growth,” said Teva chief executive Shlomo Yanai.