Teva sees U.S. generic share above 30 percent

By Lewis Krauskopf

NEW YORK (Reuters) - Teva Pharmaceutical Industries Ltd (TEVA.O: Quote, Profile, Research, Stock Buzz) could see its U.S. generic-drug market share swell to more than 30 percent in the next five years, its North American chief said on Thursday.

Israel-based Teva, the market leader with 20 percent, has about 150 generic drugs awaiting U.S. approval that are versions of brand-name medicines worth a total of about $90 billion in annual sales, said George Barrett, CEO of Teva North America.

"It's not hard for us to imagine a market share that's above 30 percent," Barrett said at the Reuters Health Summit in New York. "That could be driven by a combination of things, both the growth of our business organically as well as some opportunities to grow through acquisition."

"If you look at other industries, it's not unusual to see market leaders that have shares in the 30s and sometimes even 40s," Barrett said.

Of the generic drugs awaiting approval, 43 involve products where Teva could be the lone generic on the market for a six-month period.

"In terms of our U.S. pipeline, we have really built a large enterprise over many years; we continue to file at an exciting rate," Barrett said.

The U.S. market -- the largest for prescription drugs in the world -- continues to attract new players, but market share seems to be concentrating among the leaders, Barrett said.

He said more consolidation is likely in the generic industry, despite several large deals in recent years.  Continued...