The Wall Street Journal-20080213-Teva Pharmaceutical Industries- Drug Maker Boosts Spending As Net Income Rises 24-

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Teva Pharmaceutical Industries: Drug Maker Boosts Spending As Net Income Rises 24%

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Teva Pharmaceutical Industries Ltd. said fourth-quarter net income rose 24% as it ramps up spending on research and development. The Israel-based generic-drug-maker said net rose to $570 million, or 69 cents a share, from $460 million, or 56 cents a share, a year earlier. Sales rose 13% to $2.58 billion. Teva said global sales of Copaxone, a multiple-sclerosis treatment, rose 15% to $436 million, driven by patient growth and price increases. North American pharmaceutical sales accounted for 59% of total pharmaceutical sales, rising 15% to $1.44 billion. The sales benefited from the generic version of Wyeth's heartburn drug Protonix, as well as sales of other generic products.