Teva sales to double in 5 years

13 May 2008

The European chief of Teva has said the company plans to more than double sales in the region over the next five years and expand through organic growth and acquisitions.

Gerard Van Odijk told the German newspaper Handelsblatt that the pharmaceutical giant hopes to increase earnings before income tax at a faster rate in the future.

Israel-based Teva is the world's biggest manufacturer of generic drugs and over 80 per cent of the company's sales are made in Europe and North America.

Mr Van Odijk also said that Teva's German marketing organisation is being transformed ahead of the country's drug market being liberalised.

The change in the market could lead to generic drugs playing a greater role than branded medications due to their lower sales prices, according to Mr Van Odijk.

In related news, Teva is to host a live webcast tomorrow (May 14th) at the Bank of America Health Care Conference in Las Vegas.

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