Teva Pharmaceutical Industries has been outlining its plans for future growth to investors in New York, saying it expects to double revenues by 2015 to $31 billion.

The Israeli drugmaker is also hoping to post net income of $6.8 billion in 2015, well over double the total expected for 2009. Growth is expected to be driven by Teva increasing its already-considerable share of the generics market, which the company projects will be worth $135-$150 billion by 2015, from around $80 billion today.

Teva expects its market-leading share of the US generics market to rise to 35% by 2015, up from around 22%. Growth is also expected to come from those European and international markets “that are currently characterised by low generic penetration rates”. The firm added that it is committed to becoming a leading player in the evolving biogenerics market “and has taken significant steps to build the necessary infrastructure to accomplish this goal”.

Shlomo Yanai, Teva's chief executive, added that the company will continue to expand its branded business through internal R&D, licensing and other business development opportunities. That side of its operations is dominated at present by the multiple sclerosis drug Copaxone (glatiramer acetate) and Mr Yanai said that it does not expect generic competition to the therapy any time soon.