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Teva Pharmaceutical Industries
Teva Pharmaceutical Industries Ltd. (Hebrew: טבע תעשיות פרמצבטיות בע"מ), NASDAQ: TEVA is an international pharmaceutical company headquartered in Petah Tikva, Israel. It specializes in generic and proprietary pharmaceuticals and active pharmaceutical ingredients. It is the largest generic drug manufacturer in the world and one of the 20 largest pharmaceutical companies worldwide. [1]In 2006, its sales totaled $8.4 billion, of which 80% in Europe and North America. After its acquisition of U.S. rival Ivax Corporation in January 2006, the company has about 26,000 employees in 50 countries. Teva's facilities are located in Israel, North America, Europe and Latin America. Additional recommended knowledge
HistoryTeva's earliest predecessor was Salomon, Levin, and Elstein Ltd., a wholesale distributor based in Jerusalem that was founded in 1901. During the 1930s new immigrants from Europe founded several pharmaceutical companies including Teva, Assia, and Zori. In 1951, Teva raised capital through the newly founded Tel-Aviv Stock Exchange. In 1964 Assia and Zori merged and acquired a controlling interest in Teva. In 1976, these three companies merged into the modern Teva Pharmaceutical Industries Ltd. In 1980, Teva continued to follow its vision of becoming one of the world's biggest Pharmaceutical companies by acquiring then Israel's second largest drug manufacturer, Ikapharm. [2] In 1982 Teva was granted FDA approval for its Kfar Saba manufacturing plant, an essential milestone for marketing Pharmaceuticals in the USA. Teva's Innovative Research and Development has been granted approval for two innovative drugs: Copaxone (for the treatment of multiple sclerosis) in the mid-1990s, and Azilect (sold as Agilect in some countries) for treatment of Parkinson's disease in the 2000s. Several innovative compounds are in the pipeline, but the innovative arm carries far less weight in Teva (when compared to generics) than in any other top 20 pharmaceutical company. On June 23, 2006, Teva (through a former Ivax subsidiary) received from the U.S. Food & Drug Administration a 180-day exclusivity period to sell simvastatin (Zocor) in the U.S. as a generic drug in all strengths except 80 mg. Teva presently competes with the maker of brand-name Zocor, Merck & Co.; Ranbaxy Laboratories, which has 180-day exclusivity at 80 mg; and Dr. Reddy's Laboratories, whose authorized generic version (licensed by Merck) is exempt from exclusivity. In 2005, Teva opened a new plant in Har Hotzvim, a technology park in Jerusalem. On December 24, 2007, Teva released an AB-rated generic alternative to Protonix.[3] ProductsPharmaceuticals
Subsidiaries
Animal rights arrestsTwo Israeli animal rights activists were charged with "illegal gathering" in Petah-Tikva, Israel, after being arrested in December 2006 for holding a vigil outside TEVA's offices. The activists were protesting because TEVA is a client of Huntingdon Life Sciences (HLS), which is the focus of an international animal rights campaign, Stop Huntingdon Animal Cruelty. [4] References
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| This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Teva_Pharmaceutical_Industries". A list of authors is available in Wikipedia. | |||||||||||||||||||||
