Pharma Industry
Industry: Email Alert RSS FeedGeneric drugmakers post gains. (Markets: Life Sciences).(various briefs)
Chemical Market Reporter, November, 2002
GENERIC drugmakers overall have seen healthy profits for the quarter. Three companies, Teva Pharmaceutical Indus-tries Ltd., Mylan Laboratories Inc. and Alpharma Inc., surprised on the upside, while Biovail Corp. and King Pharmaceuticals Inc. fell in line with consensus. However, Ivax Corp. saw earnings fall on pricing pressure for paclitaxel and Dr. Reddy's Laboratories Ltd. suffered on exclusivity loss for fluoxetine.
Teva Pharmaceutical posted a 21 percent rise in third quarter net income to $96 million, or 71 cents per share, 3 cents ahead of Banc of America Securities estimates. Sales rose 25 percent to $631 million. The launch of a 90 milligram (mg) generic version of Bayer AG's hypertension drug Adalat CC (nifedipine) and market exclusivity on a...
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