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Teva Pharmaceuticals

(TEVA) - Get Report

said second-quarter adjusted earnings rose 25% to $742 million, or 83 cents a share, as sales of its multiple sclerosis drug Copaxone rose 21%.

The generic drugmaker said earnings on a generally accepted accounting principles basis fell to $521 million, or 58 cents a share, from $533 million, or 65 cents a share, a year earlier.

Sales rose 20% to $3.4 billion, with the appreciation of the U.S. dollar crimping sales by $256 million, or 9%, Teva said.

Teva said it saw record global in-market sales of Copaxone of $682 million in the quarter, up 21% from a year earlier.

North American pharmaceutical sales in the second quarter rose 26% to $2.05 billion, accounting for 63% of total pharmaceutical sales.

Teva completed its acquisition of Barr Pharma in 2008. Teva said the Barr "integration continues to run ahead of schedule and we are realizing more synergies more quickly than we had initially forecast."


Reported by Joseph Woelfel in New York