Dip in 2nd-qtr 2016 generic sales does not knock confidence during Teva's 'year of transition'

Bosses at Teva Pharmaceutical Industries (NYSE: TEVA) remain confident in its ability to deliver multi-year growth despite a slight dip in sales in its generics business in this year’s second quarter compared to the same period of 2015.

It comes in the week that the Israeli company, which was already the world’s leading seller of generic medicines, completed the $40.5 billion deal to buy the generics arm of Ireland-incorporated Allergan (NYSE: AGN) and agreed to buy the same company’s Anda subsidiary.

Erez Vigodman, Teva’s chief executive, called 2016 a “transition year” as he presented the latest quarterly results, and he remains confident that the company’s plans for 1,500 generic launches globally in 2017 and expanded pipeline will deliver growth in the longer term.