Teva Pharmaceutical Industries
said strong sales of Copaxone and the successful launch of generic Allegra helped lift its third-quarter top line and net income 6% from a year ago, but drug revenue from North America registered a decline.
Meanwhile, the company's merger partner
said its quarterly revenue jumped 41% year over year.
Teva's sales for the third quarter rose to $1.32 billion from $1.25 billion last year. The Israel-based drugmaker earned $267.1 million, or 40 cents a share, compared with $251.5 million, or 37 cents a share, in the prior year.
North American pharmaceutical sales for the third quarter totaled $708 million, down from $719 million last year. Higher sales of Copaxone in the U.S. and better overall pharmaceutical sales in Canada partially offset lower U.S. generic sales.
Teva said its acquisition of Ivax is proceeding as planned. The companies expect to close the transaction in late 2005 or early 2006.
Miami-based Ivax said separately that its third-quarter revenue reached $617.7 million, up from $439.1 million last year. Net income was $55.4 million, or 20 cents a share, vs. $44.4 million, or 17 cents a share, a year ago.
Ivax said third-quarter earnings were cut by 4 cents a share by items related to the Teva merger.