Teva turnover likely to reach 23m euros

Teva, the biggest player on the global generic drugs market, this year targets 40-50% higher turnover domestically and wants to become one of the five biggest players on the domestic generics market in the next two or three years by launching new drugs. "In the first half of last year we laid the groundwork: we restructured the organisation, we reviewed our product portfolio, because a large part of products were quite old. This brought a turnover decline in the first six months, and we returned to growth in July-August owing to the launch of new products. In the second half of the year, we had a 40-50% advance, a pace we want to keep in 2010, as well," says Alina Luiceanu, general manager of Teva Pharmaceuticals. Last year, the company reached turnover worth 70m RON (17.5m euros), up 6% from 2008. Amid a 40-50% growth pace, the company's turnover is likely to get to 100m RON (23.8m euros). Teva in late 2009 held a 5% market share, placing it ninth in the ranking of generics companies domestically.