Anyone looking for some real insight into Teva's growth strategy should spend some time with a new Globes article that digs in deep. Shlomo Yanai, who stepped in as CEO a year ago, plans to double sales by introducing a series of biogenerics and advancing new biologics. By 2012, Yanai expects to have the Israeli company earning $20 billion a year as he builds a pharma/biotech/generic hybrid.
"Drugs based on synthetic-organic chemistry are reaching the end of the road, and we can see this by the falling number of new drugs receiving approval every year," he tells Globes. "On the other hand, biology, or drugs based on live organisms, are growing at a faster rate."
Yanai explains that Teva's $400 million deal to buy CoGenesys fits in neatly with the overall strategy. "One of the moves we recently took was the acquisition of CoGenesys which has developed a technology that fuses human albumin with biological molecules. Since the patents in the field will only start lapsing towards 2013-2014, drugs will not become available en-masse until then. We believe, however, that our first biogeneric drug will come onto the market in Europe before then, in 2009."
- read the story from Globes
- and read the report from the Wall Street Journal