Teva reports strong Q2 results

JERUSALEM The world’s largest generic drug maker experienced large gains in its business, according to a second quarter 2009 earnings release.

Teva announced Tuesday that it had net sales of $3.4 billion, a 20% increase over second quarter 2008. Non-GAAP net income increased by 25%, to $742 million, during the same period. Copaxone (glatiramer acetate), a branded multiple sclerosis drug made by the company, had global in-market sales of $682 million, a 21% increase over second quarter 2008.

“This was another great quarter for Teva, with record-breaking financial results,” Teva president and CEO Shlomo Yanai said in a statement. “This was also an exciting quarter in terms of strategic achievements, as the Barr integration continues to run ahead of schedule, and we are realizing more synergies more quickly than we had initially forecast.”