2014 Generics Sales: $9.1 billion -1%
Worldwide Market Share: 12.2%
Teva ($TEVA) spent much of 2014 fighting to fend off generics for its branded multiple sclerosis blockbuster, Copaxone. In the meantime, though, generics took a 1% hit, with revenues declining by $88 million compared with 2013.
In Europe specifically, Teva's top-line generics haul fell by 6%, despite the launch of DuoResp Spiromax, a copy of AstraZeneca's ($AZN) respiratory star Symbicort. In September, the Israeli drugmaker scored a win for its copy in the U.K., with the English High Court invalidating one of AZ's Symbicort IP shields.
Things went better for the drugmaker in the U.S., though. Revenues in the country--Teva's largest generics market, generating 45% of its total generics revenue in 2014--shot up 6% to hit $4.4 billion. At the end of the year, Teva thought it'd be able to add a knockoff of Pfizer ($PFE) blockbuster Celebrex to the mix, too, though in mid-December a U.S. appeals court ruled that the company had to put those plans on hold. It reversed an FDA decision that had bestowed 180-day exclusivity on the Petah Tikva-based drugmaker, allowing a head start to rivals Mylan ($MYL) and Watson--part of Actavis--and putting Teva off till the following June.
Meanwhile, new CEO Erez Vigodman--who took the reins that February--sparked a share-price revival over 2014, putting the pharma in a position to scout buyouts. In December of last year, he reportedly had his eye on complex generics manufacturers and emerging markets generics specialists who could bulk Teva up in countries like Brazil and Mexico.
Of course, 2015 is when the big dealmaking action came for the company. After embarking on a hostile pursuit of unwitting target Mylan, Teva abruptly switched gears in July to lay out $40.5 billion for the generics business of competitor Allergan ($AGN).
-- Carly Helfand (email | Twitter)
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