Teva reports double-digit growth in first quarter of 2012
14 May 2012 00:00 in Consumer Healthcare News
Teva has published its financial results for the first quarter of 2012, reporting a double-digit increase in terms of sales, income and earnings.
Revenues rose by 25 percent year-on-year to $5.1 billion (3.17 billion pounds), while its net income and earnings per share figures increased by 39 percent and 41 percent respectively.
The quarter was marked by strong growth for Teva's branded products, US generics and developing market business segments, all of which helped to offset challenging conditions in Europe.
Coinciding with the publication of this new fiscal report, Shlomo Yanai, Teva's president and chief executive officer, has stepped down from his role, with Dr Jeremy Levin taking up the position.
Mr Yanai said: "I am very confident that Jeremy will lead Teva to new heights and I wish him every success."
The company also appointed Dr Michael Hayden as its president of global research and development and chief scientific officer this month.
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