A global pharmaceutical company and the world’s largest generic drug manufacturer. The company develops, produces and markets generic, innovative and branded drugs. Teva currently operates in approximately 60 countries with an estimated 45,000 employees worldwide.
Teva is the largest commercial (and industrial) company on the Israeli market by equity, net profit, operating income and market value. The company is also the largest provider of healthcare products and services in the Israeli market, by sales volume. Teva distributes healthcare products and services, including consumer healthcare products, hospital supplies, dialysis equipment and disposables, diagnostics and home care services. An Israeli subsidiary – Salomon, Levin and Elstein, provides logistical support for Teva’s sales and distribution activities in Israel, including the distribution of third parties of several multinational pharmaceutical companies.
As a dominant part of the Israeli pharmaceutical industry, Teva enjoys the advantages generated by the Israeli occupation of Palestinian lands allowing the company to exploit the Palestinian market. ‘Quality and Security reasons’ in conjunction with economic and political justifications create a Palestinian captive market for Israeli and multinational companies.
The Paris Protocol, an annex to the Oslo Accords, which regulates the financial relations between Israel and the future Palestinian state, placed both entities under the same taxation envelope. As a result, the Palestinians continue to depend on Israeli policies, customs laws and services for the import and export of goods. This dependency has inflicted strong negative economic effects on the Palestinian pharmaceutical industry. Various hindrances generate extra costs that harm the development of the local industry: the burden of the annual licensing of imported raw materials, the costs of back-to-back deliveries to and from the WB and the GS, the costs of shipping drugs in bulk via Jordan, the exclusion of large Arab markets as well as in Israel, and the inability of the Gazan industry to develop and expand due to the prohibition on export.
Teva, likewise other Israeli and multinational companies, enjoys the aforementioned situation in several ways. The company enjoys easy access to the Palestinian market, free of customs and checkpoint, e.g. change of trucks at cargo checkpoints. Teva’s agents do not have to amend any of their products in order to sell them in the OPT. Thus, the company can sell drugs that are not labeled in Arabic. Teva meets little to no competition from the cheaper generic drug industry, as a result of the Israeli Ministry of Health restrictions on drug registration in Israel and their enforcement on the Palestinian market.
For further information, check our report on the Pharmaceutical Industry: Captive economy.
A public company traded in the NASDAQ and the TASE.
President and CEO: Jeremy M. Levin
Chairman of the Board: Phillip Frost
The North American market constitutes 60% of the company’s sales, 25% of the company’s sales are on the European market and other regions (primarily Latin America, Israel, Russia and other Eastern European countries that are not members of the EU) comprise the remaining 15%.
The company’s operations are conducted through a network of global subsidiaries in approximately 60 countries and owns pharmaceutical production sites in 19 countries.
Main Subsidiaries (partial list):
USA: Teva Pharmaceuticals USA | Plantex USA
Canada: Teva Canada (formerly known as Novopharm)
Hungary: Teva Hungary Pharmaceutical Marketing Private
UK: Teva UK
The Netherlands: Teva Pharmaceuticals Europe | Pharmachemie | Plantex Chemicals
France: Teva Sant | Laboratoire ratiopharm
Croatia: Pliva Hrvatska
Germany: AWD. Pharma GmbH & Co. KG | Teva | CT Arzneimittel | ratiopharm
Poland: Teva Pharmaceuticals Polska sp.
Italy: Teva Italia | Ratiopharm Italia
Spain: Teva pharma SLU
Czech Republic: Teva Czech Industries | Teva Pharmaceuticals CR
Russia: Teva Liability Company
Chile: Laboratorio Chile
Peru: Corporacion Infarmasa
Mexico: Lemery SA de CV
Argentina: IVAX Argentina | Teva-Tuteur
Israel: Assia Chemical Industries | Salomon, Levin and Elstein
All the information contained in this page is valid until Sun 22/07/2012