Teva Romania doubles turnover in Q3 against similar period of 2009

Newsroom 03/11/2010 | 16:33

Teva Romania doubled its turnover in Q3 against the same period of 2009, according to company representatives. Generics were mostly responsible for this growth, registering a 160 percent increase following new product launches. Teva Romania extended its local generics portfolio which now includes oncology, osteoporosis and cardiology drugs.

For the first time in the past four years generics have increased more than brand name drugs. Teva representatives say that this trend was also influenced by changes brought to the national policy for free and compensated prescriptions.

“This could be the sign that local public health funds will be managed more efficiently, allowing a more predictable access for the population to cost-efficient drugs” said Dr. Alina Luiceanu, country manager Teva Pharmaceuticals Romania, adding that this trend is common for all European countries. “It confirms the value brought by generics to healthcare in all advanced countries” she concluded.

In terms of value, less than 25 percent of the local drug market is taken by generics, below the average of previous years. In Romania it is estimated that more than two thirds of patients are prescribed generics.

Globally, Teva Pharmaceuticals Industries posted a USD 4.3 billion turnover for Q3, 20 percent more on the same period of 2009. Net profit also went up by 47 percent to USD 1.2 billion.