NEW YORK (Reuters) - Teva Pharmaceutical Industries Ltd <TEVA.O> <TEVA.TA>, the world's largest generic drugmaker, on Tuesday reported a drop in its first-quarter net profit, weighed by a charge tied to its acquisition of CoGenesys.

Quarterly net income at the Israel-based company was $147 million, or 18 cents per share, compared with $342 million or 42 cents per share a year earlier.

On an adjusted basis, which excludes the CoGenesys charge, Teva said it earned 64 cents a share in the quarter.

Sales rose 24 percent to $2.57 billion.

ADVERTISEMENT

(Reporting by Aarthi Sivaraman)