Teva is joining some of the pharmaceutical industry's biggest players in looking to gain ground through acquisitions and expanded promotion in the emerging generics markets of Latin America, especially Mexico and Brazil. The Israeli company is restructuring its international group, it says, combining the management of its North and South America businesses under one division led by the company's current North America CEO and president, William Marth.

The sale of generic drugs represents one of the fastest growing markets for the pharmaceutical industry globally, especially in emerging markets where governments and consumers are more sensitive to price than in established Western markets.

That's why Teva's Latin America push puts it in good company. Merck CEO Richard Clark recently expressed his willingness to make acquisitions to establish his company in attractive emerging markets. And just last year, Pfizer established its own emerging markets business unit, which identified six priority markets: China, India, Brazil, Russia, Turkey and Mexico.

Teva's international sales grew 6 percent compared with the second quarter of 2009, driven primarily by increased sales in Latin America and Israel, the company said. Teva's international group is responsible for markets other than the United States, Canada, and those included under Teva Europe. It includes operations in Latin America, Croatia, Israel, Japan, and Russia. It represented 14 percent of Teva’s second quarter 2010 revenue with approximately 37 percent of international sales generated in Latin America.

The company's international sales have skyrocketed since 2002, when it rang up just $275 million in sales to more than $2 billion in 2009.