Teva Pharmaceutical Industries said yesterday it expects respiratory products, including several new medicines, to contribute about $2.4 billion to its $31 billion revenue target for 2015. The world's largest maker of generic drugs has plans to bolster its portfolio of its own branded medicines over the next five years.
Teva said it intends to seek U.S. and European approval for 10 products - six of them new brands - by 2015, with an eye toward significantly expanding its presence in the market for respiratory products. It expects four such submissions next year. "One of the key pillars of Teva's long-term strategy is the expansion of our branded business, and our respiratory franchise will play an important role in this growth," CEO Shlomo Yanai said in a statement.
The forecasts came in a meeting for investors and analysts in New York. Wall Street has been preoccupied with competitive threats to Teva's big-selling multiple sclerosis drug, Copaxone.
Since its 2006 acquisition of Ivax Pharmaceuticals, Teva said its annual global respiratory product sales have nearly tripled and are expected to reach $1 billion this year. At the meeting, company executives said the respiratory portfolio has the potential to achieve peak sales of $5 billion. In the U.S., Teva plans to pursue branded respiratory products, citing high regulatory barriers for approval of generic versions.
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