Teva projects outlook of $31 billion in revenue by 2015
JERUSALEM Teva hopes to garner revenues of $31 billion and net income of $6.8 billion by 2015, according to a presentation made to investors last week.
Already the world’s largest manufacturer of generic drugs, Teva expects increasing global demand for generic drugs to drive the company’s growth, with a significant portion of that growth expected to come from markets with low generic-drug penetration, such as Europe. In addition, internal research and development and licensing are expected to strengthen the company’s branded-drug business.
“In the years to come, Teva will seek to extend our global leadership and deliver profitable growth, doubling our revenues by 2015 and reaching net income margins of 22%,” president and CEO Shlomo Yanai said. “Our core business, generics, will continue to drive our growth. At the same time, we will continue to expand our branded business, further leveraging the diversity of our balanced business model.”
New report projects sales of Parkinson’s disease drug will reach $500 million
WALTHAM, Mass. A drug made by Boehringer Ingelheim for treating Parkinson’s disease could have sales of up to half a billion dollars, according to a new analysis.
According to a report released Tuesday by market research firm Decision Resources, BI’s extended-release formulation of pramipexole will have peak-year sales of between $250 million and $500 million in major pharmaceutical markets. The drug was launched in Europe in 2009 and is expected to enter the market in the United States this year.
In the beginning, according to the report, launches of generic formulations of the immediate-release version of pramipexole and competition from GlaxoSmithKline’s and SkyePharma’s Requip XL (ropinirole CR) and generic versions of immediate-release Requip will put a damper on sales of pramipexole ER. However, physician familiarity with the drug and preference among physicians and patients for once-daily dosing will cause a “significant” increase in sales.
“Given physician comfort in prescribing pramipexole for Parkinson’s disease and the convenience of once-daily dosing that it would offer, we expect that pramipexole ER will take much of pramipexole IR’s patient share,” Decision Resources analyst Sami Fam said. “In the short term, we expect pramipexole ER will lose some patient share to ropinirole CR given that ropinirole CR was the first of the two agents to launch. But over the long term, physicians’ slight preference for pramipexole over ropinirole should help to boost pramipexole ER’s uptake.”
Report: Weis Markets acquires local Medicine Shoppe pharmacy
SUNBURY, Pa. Weis recently acquired a Medicine Shoppe pharmacy in the Binghamton, N.Y., market, local newscaster News Channel 34 (owned by Newport Television) reported early Tuesday morning.
Weis Markets currently has 120 in-store pharmacies at other locations and is considering more at its Broome County locations, the report noted.