Israel’s Teva Pharmaceutical Industries says it expects to double its revenue to $20 billion by 2012 and outpace the market.

Speaking at an analysts meeting in New York, chief executive Shlomo Yanai noted that the global generic drug market is expected to grow from $75 billion last year to $120 billion in 2012 as decision-making shifts to payors. Governments will demand more generics to keep costs down and Teva is the best-placed firm to benefit, he added.

Bill Marth, chief executive of Teva North America predicted that by 2012, revenues could more than double to $11.5 billion and extend its US leadership in generics to 30% market share, up from around 20% at the moment. Over 75% of US prescriptions will be genericised by 2012. Gerard van Odijk, chief executive of Teva Europe, painted an equally rosy picture, especially for France, Spain and Italy, and sales in the Old Continent could rise to $5.7 billion from $2.2 billion in five years’ time.

As for its branded drugs, notably the multiple sclerosis drug Copaxone (glatiramer acetate) and Azilect (rasagiline) for Parkinson's disease, will grow to $3 billion by 2012 from $1.8 billion last year, while biogenerics will also become a profitable line, Teva said. Over $40 billion in current biopharmaceutical sales will be exposed to generic competition over the next 10 years and given the manufacturing expertise necessary, there will higher barriers to entry and only the biggest firms will take full advantage.

Biosimilar version of Neupogen backed in EU
Staying with biogenerics and Teva got a further boost with the news that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion for its human granulocyte colony stimulating factor product, TevaGrastim. This is the first biosimilar G-CSF to receive a positive opinion in the European Union and is a copy of Amgen’s Neupogen (filgrastim).

The CHMP also adopted positive opinions for biosimilar versions of filgrastim from Ratiopharm and CT Arzneimittel.