Teva reports double-digit growth in third quarter of 2012

Teva has achieved double-digit revenue growth in the third quarter of 2012, according to the firm's latest financial report.

The healthcare company's net revenues for the three-month period came to $5 billion (3.13 billion pounds), up by 14 percent on a year over year basis, with its strongest performance coming from its US operations.

During the quarter, the organisation saw a significant increase in sales of branded medicines thanks to its recent acquisition of Cephalon, while its leading multiple sclerosis therapy Copaxone also experienced a significant revenue uplift.

The firm also reported positive developments from clinical studies of key products such as laquinimod and received regulatory approval for Synribo.

Dr Jeremy Levin, president and chief executive officer of Teva, said: "We are pleased to report solid operating results for the quarter and look forward to closing the year within the guidance we provided in May."

Last month, the company announced further positive news in the form of encouraging phase III trial data for Milprosa, a luteal supplementation product for women undergoing in vitro fertilisation.