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Teva's 2Q Earnings Move Higher on Sales 08.03.2004, 07:56 AM Generic drug maker Teva Pharmaceutical Industries Ltd. reported Tuesday that second-quarter profits moved higher on sales of many new products and increased sales of its multiple sclerosis drug Copaxone. Jerusalem-based Teva said quarterly earnings rose 9 percent to $229.5 million, or 35 cents per share, from $210.4 million, or 37 cents per share, a year ago. Results from 2003 included a one-time gain of $73 million. Analysts surveyed by Thomson First Call expected Teva to post earnings of 33 cents per share in the latest quarter. Sales increased 54 percent to $1.18 billion, from $764.4 million last year, due to the consolidation of Sicor and new generic products that were not sold in the year-ago quarter both in the United States and Europe, as well as higher global sales of multiple sclerosis drug Copaxone. North American pharmaceutical sales rose 67 percent to $676 million from $405 million a year ago, manily due to sales of 17 new products that weren't sold last year, particularly Oxycodone and Carboplatin. Pharmaceutical sales in Europe increased 42 percent in the quarter to $274 million, due to sales of new products, higher Copaxone sales that were due in part to the launch of the Copaxone pre- filled syringe, and favorable currency trends. Global in-market sales of Copaxone this quarter rose 28 percent to $226 million, as U.S. sales increased 24 percent to $150 million. The company said it plans to submit a written response to certain Food and Drug Administration questions regarding Parkinson's drug Agilect in the beginning of the fourth quarter, and Teva has requested a meeting with the FDA regarding labeling issues. American depositary receipts of Teva closed Monday at $29.65 on the Nasdaq National Market, but moved up 65 cents, or 2.2 percent, to $30.30 in pre-market activity. SOURCE: Forbes http://tinyurl.com/62evr Reference: Teva Receives Approvable Letter for AGILECT 'Rasagiline' JERUSALEM--(BUSINESS WIRE)--July 5, 2004--Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA) announced today that it has received an approvable letter from the U.S. Food and Drug Administration (FDA) for once-daily AGILECT(R) (rasagiline mesylate) as a treatment for Parkinson's disease (PD) as initial monotherapy in early PD patients and as adjunct therapy to levodopa in moderate- to-advanced stages of the disease. Following the approvable letter, Teva will work together with the FDA to complete the process of receiving final approval as soon as possible. SNIP SOURCE: Business Wire / BioSpace News http://tinyurl.com/6gfjo * * * * * * ---------------------------------------------------------------------- To sign-off Parkinsn send a message to: mailto:[log in to unmask] In the body of the message put: signoff parkinsn