* EPS $0.85 vs year-ago $0.42
* Net sales up 16 percent
* North America sales rose 7 percent, Europe sales up 43 pct
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Feb 8 (Reuters) - Teva Pharmaceutical Industries, the world's biggest maker of generic drugs, said on Tuesday fourth-quarter profit doubled, helped by strong demand for its drugs in Europe and North America.
For the fourth quarter, Teva recorded a quarterly net income of $771 million, or 85 cents a share, more than doubled from $379 million, or 42 cents per share, a year ago. Quarterly non-GAAP net income was $1.1 billion, or $1.25 per share.
Quarterly net sales rose 16 percent to $4.4 billion.
Analysts were expecting Teva to earn $1.29 a share, on revenue of $4.64 billion, according to Thomson Reuters I/B/E/S.
Fourth-quarter sales in North America rose 7 percent to $2.49 billion, accounting for 56 percent of total sales, the company said.
Fourth-qurter sales in Europe surged 43 percent to $1.32 billion, accounting for 30 percent of total sales, which benefited primarily from the consolidation of ratiopharm results.
'During 2010 Teva became the generics leader in Europe and increased our presence in key emerging markets,' chief executive Shlomo Yanai said.
(Reporting by Sakthi Prasad in Bangalore; Editing by Dan Lalor) Keywords: TEVAPHARMA/ (sakthi.prasad@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: sakthi.prasad.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Net sales up 16 percent
* North America sales rose 7 percent, Europe sales up 43 pct
(Adds detail)
Feb 8 (Reuters) - Teva Pharmaceutical Industries, the world's biggest maker of generic drugs, said on Tuesday fourth-quarter profit doubled, helped by strong demand for its drugs in Europe and North America.
For the fourth quarter, Teva recorded a quarterly net income of $771 million, or 85 cents a share, more than doubled from $379 million, or 42 cents per share, a year ago. Quarterly non-GAAP net income was $1.1 billion, or $1.25 per share.
Quarterly net sales rose 16 percent to $4.4 billion.
Analysts were expecting Teva to earn $1.29 a share, on revenue of $4.64 billion, according to Thomson Reuters I/B/E/S.
Fourth-quarter sales in North America rose 7 percent to $2.49 billion, accounting for 56 percent of total sales, the company said.
Fourth-qurter sales in Europe surged 43 percent to $1.32 billion, accounting for 30 percent of total sales, which benefited primarily from the consolidation of ratiopharm results.
'During 2010 Teva became the generics leader in Europe and increased our presence in key emerging markets,' chief executive Shlomo Yanai said.
(Reporting by Sakthi Prasad in Bangalore; Editing by Dan Lalor) Keywords: TEVAPHARMA/ (sakthi.prasad@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: sakthi.prasad.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.