3. Teva is an Israel-based global pharmaceutical company engaged in the development and production of generic drugs. The company's principal products include Copaxone for multiple sclerosis and Azilect for Parkinson's disease, respiratory products and women's health products. Third-quarter net sales were up 20% year over year to $4.3 billion over the comparable period in 2009. Net income rose to $1.2 billion, an increase of 47% from a year earlier. Copaxone, representing about one-fifth of Teva's total sales, grew 4% during the quarter. Copaxone occupies a 30% global market share and continues to be the leading treatment option for multiple sclerosis. Teva completed the acquisition of Ratiopharm in August. The company generates about two-thirds of its revenue from North America, while Europe contributes about 24%. Meanwhile, bigger markets like the U.S. and Europe witnessed revenue increases of 34% and 33%, respectively. in the September quarter. As of October 2010, Teva had 203 pending product applications for FDA approval, including 45 tentative approvals. The stock trades at 10.3 times its estimated 2011 earnings.