Copaxone sales raise Teva's Q1 profit

JERUSALEM Teva Pharmaceutical Industries had net sales of $3.7 billion in first quarter 2010, a 16% increase over the same period in 2009, the world’s largest generic drug maker said Tuesday. Those sales produced profits of $830 million for the quarter, a 31% more than in first quarter 2009.

“2010 is off to a great start for Teva, with strong operational results and cash flow,” president and CEO Shlomo Yanai said. “We continued our strong growth momentum in the first quarter, driven by contributions from across our many businesses and geographies, and we are looking forward to another year of continuous growth.”

The growth in sales and profits came amid record global $796 million sales of the multiple sclerosis drug Copaxone (glatiramer acetate), a 28% increase over first quarter 2009. Teva said the drug continues to be the leading therapy for MS in the United States and globally. Sales in North America were $2.3 billion, a 20% increase over first quarter 2009 that resulted from launches of generic versions of drugs such as Mirapex (pramipexole) and sales of generic versions of Adderall XR (mixed amphetamine salts), Pulmicort Respules (budesonide) and others.