UPDATE 1-Teva Pharm Q2 profit, sales rise

* Q2 EPS $1.08 vs forecast of $1.04

* Q2 sales grow 12 percent to $3.8 billion

* Copaxone sales up 13 percent to $773 million

(Adds details)

TEL AVIV, July 27 (BestGrowthStock) – Teva Pharmaceutical Industries
(TEVA.O: ), the world’s largest generic drugmaker, reported higher
quarterly net profit on Tuesday, boosted by sales of generic
medicines and its own branded multiple sclerosis treatment
Copaxone.

The Israeli-based company posted second-quarter net profit,
excluding one-time items partly due to acquisition expenses, of
$981 million, or $1.08 per diluted share, up from $742 million,
or 83 cents a share, a year earlier.

Sales grew 12 percent to $3.8 billion led by a 17 percent
rise in North America and 10 percent increase in Europe.

Teva (TEVA.TA: ) was expected to have earned $1.04 on sales of
$3.81 billion, according to Thomson Reuters I/B/E/S.

Driven by a gain in the United States, global sales of
Copaxone rose 13 percent to $773 million to remain the top
selling MS therapy, Teva said.

“2010 is well on track to becoming another year of
profitable growth and major achievements for Teva, a year in
which we will make significant progress towards achieving our
long-term strategic objectives,” said Shlomo Yanai, Teva’s
president and chief executive.

Teva, which in March said it would buy Germany’s Ratiopharm
for 3.7 billion euros ($4.78 billion) in a bid to expand into
the German generics market, had previously forecast 2010 revenue
of $16 billion and EPS of $4.40-$4.60 excluding one-off items.

Teva said it would pay a dividend of 0.7 shekel, or about
18.1 cents a share, on Aug. 19. It also paid 0.7 shekel after
first-quarter results.

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(Writing by Steven Scheer; Editing by Mike Nesbit)

UPDATE 1-Teva Pharm Q2 profit, sales rise