Teva - Top 10 Generic Drug Companies 2010
Company name: Teva
Annual sales (in millions): $6.956
Market share: 21.8%
CEO: Shlomo Yanai
According to its website, Teva has its roots in an early 20th century wholesale drug business in Jerusalem that distributed imported medicines loaded on the backs of camels and donkeys. Now, it's the largest generics company in the world. And it recently announced Q2 2010 results, reporting net sales of $3.8 billion.
Sales in North America in the second quarter reached roughly $2.47 billion, accounting for 65 percent of total sales and representing an increase of 17 percent compared with the second quarter of 2009. The increase in quarterly sales resulted from the launch of generic versions of Hyzaar, Cozaar and Yaz. And by the end of the year, analysts are predicting that Teva will be able to launch its version of Sanofi-Aventis' blockbuster blood-thinner Lovenox.
"It's a very good quarter," David Levinson, an analyst for Bank Hapoalim, tells Bloomberg. And, as the Wall Street Journal notes, Teva isn't resting. The company is now looking to make acquisitions in Latin America, with a focus on Brazil and Mexico. And the company has just completed its acquisition of Ratiopharm. As a result of the acquisition, Teva will be the number one generic company in Europe, holding the leading market position in 10 countries. In addition, the transaction will significantly increase Teva's sales in Canada, according to a company statement.