Teva Pharmaceutical (NASDAQ:TEVA) announced on Thursday it expects its respiratory products, some of which are new medicines, to contribute $2.4 billion in revenue to the company by 2015. Teva said its overall revenue target for 2015 is around $31 billion.
Teva is currently the world’s largest manufacturer of generic drugs, and has plans to increase its own branded medicines in the next five years. The company said it will pursue approval for 10 brands in the U.S. and Europe, and six of them will be new brands.
"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," Teva CEO Shlomo Yanai said in a company statement.