Fresh from posting another strong set of financials, Teva Pharmaceutical Industries has laid out plans to grow its branded business and respiratory franchise.
The Israeli drugmaker has held a meeting with the financial community in New York, saying that its expertise in the respiratory marketplace, combined with "the strength of its unique product pipeline", is expected to contribute $2.4 billion to the company's 2015 revenue target of $31 billion. Specifically, Teva intends to file ten products, six of which are new brands, for approval in the USA and Europe by 2015, targeting $25 billion in "brand value", including new combination products.
A number of these will centre around Spiromax, Teva's multi-dose dry powder inhaler. The company is also expecting to grow Qvar (beclomethasone) inhalation aerosol for the maintenance treatment of asthma "via aggressive market penetration as first line controller" and "maintain market leadership" of its branded asthma inhaler ProAir (albuterol).
Chief executive Shlomo Yanai said that "one of the key pillars of Teva's long-term strategy is the expansion of our branded business and our respiratory franchise will play an important role in this growth". He added that over the next five years, and beyond, the firm will "significantly expand our presence in the global respiratory market", an area "we are very enthusiastic about".
Teva said it is currently one of the top five players in the latter market which, according to IMS, is valued at more than $30 billion. Since the acquisition of IVAX Pharmaceuticals in 2006, its global respiratory product sales have nearly tripled and by the end of 2010, should reach $1 billion.
Earlier this week, the world's largest generics company announced third-quarter net income of $1.10 billion, up 62%, while sales increased 20% to $4.30 billion.