Generic drugmaker Teva Pharmaceutical Industries met forecasts with a 14 per cent rise in quarterly earnings on strong sales growth in Europe following last year's Ratiopharm acquisition.

Israel-based Teva, which last week announced a deal to acquire US specialty drugmaker Cephalon for $6.8 billion, posted first-quarter earnings before certain items of $1.04 per share.

Sales rose 12.1 per cent to $4.1 billion. Teva was expected to earn $1.04 on revenue of $4.27 billion.

Sales of Copaxone, the leading multiple sclerosis treatment with a global market share of 31 per cent, increased 14 per cent to $907 million.

Teva reiterated its outlook, excluding anticipated acquisitions, for 2011 revenue of $18.5-$19 billion and earnings per share excluding items of $4.90-$5.20.

Reuters