Teva projects outlook of $31 billion in revenue by 2015
JERUSALEM Teva hopes to garner revenues of $31 billion and net income of $6.8 billion by 2015, according to a presentation made to investors last week.
Already the world’s largest manufacturer of generic drugs, Teva expects increasing global demand for generic drugs to drive the company’s growth, with a significant portion of that growth expected to come from markets with low generic-drug penetration, such as Europe. In addition, internal research and development and licensing are expected to strengthen the company’s branded-drug business.
“In the years to come, Teva will seek to extend our global leadership and deliver profitable growth, doubling our revenues by 2015 and reaching net income margins of 22%,” president and CEO Shlomo Yanai said. “Our core business, generics, will continue to drive our growth. At the same time, we will continue to expand our branded business, further leveraging the diversity of our balanced business model.”