"Teva is growing and will continue to grow in the world in which we operate and in various sectors that we will move into in the future," said Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) CFO Eyal Deshe today at the conference organized by Oppenheimer Investment House in Tel Aviv.
Deshe reported a range of figures regarding Teva's market share in the US, which includes 24% of prescriptions for generic drugs and 16% of all prescriptions. Deshe said, "Teva is the world's largest manufacturer of pharmaceuticals in terms of quantity (as opposed to revenue). In 2009 we will produce 60 billion pills.
Regarding changes in the US since the Obama administration took office Deshe said, "The administration has raised its voice on the subject of health costs and those voices are in support of our direction - preference for generic drugs and promoting biogenerics."
Deshe added that biogenerics, that is to say the production of generic medications based on biological drugs, is likely to start being reflected in Teva's results from 2014-15.
Deshe continued that Teva's focus is not only on the US. The company is doing more ande more to penetrate markets in Europe, South America and Asia.
Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2009
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