Israel's Teva Pharmaceutical Industries has just reported that its net income for the first quarter of this year - ending March 31 - of $54.8 million - represents an increase over last year of 56%. Net sales for the first quarter of 2001 were $491 million, an increase of 46% over the comparable quarter of 2000. North America accounted for 59% of total sales, Europe for 24%, Israel for 12%, with sales in the rest of the world, accounting for 5%. Israel Makov, Teva's Chief Operating Officer said soon after hearing the good news: "Our results reflect the successful implementation of our strategy of growth through acquisitions, internal product development and successful market penetration. We achieved both top and bottom line growth, trends which we expect will continue as the year progresses."
In-market global sales of Copaxone, Teva's largest product, continued to grow, increasing 50% over last year's first quarter, to $74 million. Copaxone is the first innovative drug to be developed in Israel and to receive FDA approval. It is a unique Multiple Sclerosis "immunomodulator": the first and only non-interferon agent for the treatment of relapsing-remitting multiple sclerosis 88% of these sales were in North America. According to the most recently published IMS monthly data, Copaxone increased its market share in the U.S. to an all time high 29.8% of new prescriptions as compared to 23.9% a year ago. In Europe, Copaxone has been submitted for filing under the Mutual Recognition Process.
Dr. Aaron Schwartz, Vice President of the company's Global Product Division stated: "The continuing growth in sales of Copaxone is being fueled by new scientific evidence on the sustained efficacy of Copaxone and the increased exposure of data about Copaxone at international scientific conferences".
In-market global sales of Copaxone, Teva's largest product, continued to grow, increasing 50% over last year's first quarter, to $74 million. Copaxone is the first innovative drug to be developed in Israel and to receive FDA approval. It is a unique Multiple Sclerosis "immunomodulator": the first and only non-interferon agent for the treatment of relapsing-remitting multiple sclerosis 88% of these sales were in North America. According to the most recently published IMS monthly data, Copaxone increased its market share in the U.S. to an all time high 29.8% of new prescriptions as compared to 23.9% a year ago. In Europe, Copaxone has been submitted for filing under the Mutual Recognition Process.
Dr. Aaron Schwartz, Vice President of the company's Global Product Division stated: "The continuing growth in sales of Copaxone is being fueled by new scientific evidence on the sustained efficacy of Copaxone and the increased exposure of data about Copaxone at international scientific conferences".