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Product launches, Cephalon acquisition drive Teva's Q1 revenues
JERUSALEM — Net revenues for Teva rose more than 24% for the first quarter ended March 31, thanks to new drug launches and the company's acquisition of drug maker Cephalon.
First-quarter net revenues totaled $5.1 billion, compared with $4.1 billion in the year-ago period, while net income and earnings per share totaled $1.3 billion and $1.47 diluted earnings per share, an increase of 39% and 41%, respectively, compared with first quarter 2011.
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GSK to buy up research and development company
LONDON — GlaxoSmithKline is acquiring the remainder of a privately owned research and development company, GSK said Tuesday.
The British drug maker announced that it would buy the shares of Cellzome it doesn't already own for $99 million. Cellzome has labs in the United Kingdom and Germany, and will become part of GSK's research and development organization. The company, of which GSK currently owns 19.98%, develops technologies for profiling compounds in cells and patient samples.