Teva earnings rose 20 percent in third quarter

The company earned $637 million, or 77 cents per share, up from $525 million, or 64 cents per share, a year ago.

Excluding acquisition costs and other expenses, Teva would have earned $599 million, or 72 cents per share, compared with $525 million, or 64 cents per share, last year.

Analysts polled by Thomson Reuters expected earnings of 70 cents per share.

Total sales rose 20 percent to $2.84 billion. The bulk of the company's sales were in North America and rose $1.6 million, or 23 percent, from last year. Teva said sales benefited from generic versions of GlaxoSmithKline's epilepsy drug Lamictal and Johnson & Johnson's schizophrenia drug Risperdal.

U.S. sales of the company's branded multiple-sclerosis drug Copaxone increased 25 percent to $352 million in the third quarter.

As of Oct. 28 the company had 145 products awaiting approval at the Food and Drug Administration..

Teva is the word's largest generic drugmaker and is in the process of buying rival Barr Pharmaceuticals for $7.5 billion, in a move to expand its presence throughout the world. The deal is expected to close by year end.

Shares of Israel-based Teva fell 67 cents to $40.01.