Teva issues updated sales forecasts for 2012

Teva has published an updated outlook for its financial performance for the 2012 business year.

The generic medicines specialist expects to generate total net sales of $20 billion to $21 billion (12.77 billion to 13.41 billion pounds) over the 12 months, with around half of this coming from the US market.

Generic product sales will account for $10.7 billion of this total, while the performance of its $8 billion branded products portfolio will be led by a $3.8 billion contribution from its multiple sclerosis drug Copaxone.

This comes after the company generated net revenues of $5.1 billion during the first quarter of 2012, representing a year-on-year increase of 25 percent.

Growth in the year to date was driven by the success of its branded products division, its US generics business and its emerging market activities.

Teva also recently saw Dr Jeremy Levin become its new president and chief executive officer, following the departure of Shlomo Yanai.