Teva Pharmaceuticals

{{short description|Israeli pharmaceutical company}}

{{Use mdy dates|date=March 2015}}

{{Infobox company

| name = Teva Pharmaceutical Industries Ltd.

| logo = TevaPharm.svg

| type = Public

| traded_as = {{Unbulleted list|{{TASE|TEVA}}|{{NYSE|TEVA}}|TA-35 Index component}}

| founders = {{Unbulleted list|Günther Friedländer|Chaim Salomon|Moshe Levin|Yitschak Elstein}}

| key_people = {{Unbulleted list|Richard Francis (president and CEO) |Sol Barer (chairman) |Eli Kalif (CFO)}}

| industry = Pharmaceutical

| revenue = {{Increase}} {{US$|16.54 billion|link=yes}} (2024)

| operating_income = {{nowrap|{{Decrease}} {{US$|-303 million}} (2024)}}

| net_income = {{nowrap|{{Decrease}} {{US$|-1.64 billion}} (2024)}}

| assets = {{nowrap|{{Decrease}} {{US$|39.26 billion}} (2024)}}

| equity = {{nowrap|{{Decrease}} {{US$|5.373 billion}} (2024)}}

| num_employees = 36,830 (2024){{Cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/818686/000119312525020826/d865574d10k.htm |title=2024 Annual Report (Form 10-K) |date=5 February 2025 |publisher=US Securities and Exchange Commission}}

| homepage = {{URL|www.tevapharm.com/|tevapharm.com}}
{{URL|www.teva.co.il/|teva.co.il}}

| foundation = {{start date and age|1935}}

| location_city = Tel Aviv

| location_country = Israel{{cite web|url=https://www.israelbizreg.com/teva-pharmaceutical-industries-limited|title=TEVA PHARMACEUTICAL INDUSTRIES LIMITED {{!}} Israel Company Reports – Search Israeli Companies|website=www.israelbizreg.com|access-date=2016-10-19}}

}}

File:Dr. Gunter Friedlender.jpg, founder of Teva Pharmaceutical Industries in Jerusalem]]

Teva Pharmaceutical Industries Ltd. (also known as Teva Pharmaceuticals) is an Israeli multinational pharmaceutical company. Teva specializes primarily in generic drugs, but other business interests include branded-drugs, active pharmaceutical ingredients (APIs) and, to a lesser extent, contract manufacturing services and an out-licensing platform.{{cite book |last=Kiliç |first=Burcu |url=https://books.google.com/books?id=L0gjBAAAQBAJ&q=teva+delivering+drugs+on+camel&pg=PA173 |title=Boosting Pharmaceutical Innovation in the Post-TRIPS Era |date=July 31, 2014 |publisher=Edward Elgar Publishing |isbn=9781782544135 |access-date=May 23, 2017 |via=Google Books}}

Teva's primary branded products include Austedo (deutetrabenazine) which is used for the treatment of chorea associated with Huntington's disease and tardive dyskinesia; and Ajovy (fremanezumab), used for the preventive treatment of migraine in adults. Additional branded drugs sold by Teva include Copaxone, Bendeka and Treanda, all of which are primarily sold in the United States.

Teva is listed on the Tel Aviv Stock Exchange and the New York Stock Exchange. Its manufacturing facilities are located in Israel, North America, Europe, Australia, and South America. The company is a member of the Pharmaceutical Research and Manufacturers of America (PhRMA).{{cite web|url=http://www.fiercepharma.com/pharma/teva-wins-controversial-phrma-bid-despite-protests-from-branded-rivals|title=Teva wins controversial PhRMA bid despite protests from branded rivals – FiercePharma|website=www.fiercepharma.com|date=July 18, 2016 |access-date=May 23, 2017}}{{cite web|title=Teva, one of the biggest generic makers, joins the brand-name club|url=https://www.statnews.com/pharmalot/2016/07/18/teva-generics-phrma/|website=STAT|access-date=20 August 2017|date=18 July 2016}}

Teva Pharmaceuticals is the largest generic drug manufacturer in the world. Overall, Teva is the 26th largest pharmaceutical company in the world.{{Cite web |date=2022 |title=2022 Pharma 50: The 50 largest pharmaceutical companies in the world |url=https://www.drugdiscoverytrends.com/2022-pharma50/teva-pharmaceutical-industries/ |access-date=2025-02-18 |website=Drug Discovery & Development |language=en}} Teva has a history of legal trouble in relation to collusion and price-fixing to inflate prices for drugs. In 2023, Teva paid the largest fine to date for a domestic antitrust cartel in relation to a criminal investigation by the US Department of Justice into the company's price-fixing.

One of its early shareholders, after the company was quoted on the Tel Aviv exchange, was the late British press tycoon Robert Maxwell.{{cite web|url=https://bod.org.uk/bod-news/the-rise-and-rise-of-teva/|title=The rise and rise of Teva}}

History

= Salomon, Levin, and Elstein =

Teva's earliest predecessor was SLE, Ltd., a wholesale drug business founded in 1901 in Ottoman Empire's Mutasarrifate of Jerusalem. SLE Ltd. took its name from the initials of its three cofounders: Chaim Salomon, Moshe Levin and Yitschak Elstein, and used camels to make deliveries.{{cite book|url=https://books.google.com/books?id=L0gjBAAAQBAJ&q=teva+delivering+drugs+on+camel&pg=PA173|title=Boosting Pharmaceutical Innovation in the Post-TRIPS Era|first=Burcu|last=Kiliç|date=July 31, 2014 |publisher=Edward Elgar Publishing |isbn=9781782544135|access-date=May 23, 2017|via=Google Books}} During the 1930s, new immigrants from Europe founded several pharmaceutical companies including Teva and Zori. In the 1930s, Salomon, Levin, and Elstein Ltd. also founded Assia, a pharmaceutical company.

= Teva Pharmaceutical Industries =

== 1935–1949 ==

Teva Pharmaceutical Industries took its present form through the efforts of Günther Friedländer and his aunt Else Kober on May 1, 1935. The original registration was under the name Teva Middle East Pharmaceutical & Chemical Works Co. Ltd. in Jerusalem, then part of Mandatory Palestine. Friedländer was a German pharmacist, botanist and pharmacognosist, who immigrated to Mandatory Palestine in 1934.

The company was built with an investment of £4,900, which came from the family's own capital and partly from loans from other German immigrants. Capital shortage led to the joining of the banker Alfred Feuchtwanger as a partner in Teva, who received 33% of the shares in return for his investment.{{cite book|url=https://books.google.com/books?id=3tbbQvksgxwC&q=Dr.+Alfred+Feuchtwanger&pg=PA417|title=Die Feuchtwangers: Familie, Tradition und jüdisches Selbstverständnis|first=Heike|last=Specht|date=October 24, 2013|publisher=Wallstein Verlag|isbn=9783835306639|access-date=February 21, 2019|via=Google Books}}

Friedländer's business philosophy opined that the pharmaceutical industry has a reliable basis in difficult economic times, since "A Jewish mother will always buy medicine for her children". In the Second World War, the company provided medicine to the allied forces and in particular to the British army present in the Middle East. After the war, Sir Alan Gordon Cunningham, the last of the High Commissioners for Palestine and Transjordan, visited Teva on behalf of the Secretary of State for the Colonies. His visit promoted Teva's reputation in the pharmaceutical market and created a momentum for Teva's development.

During Mandatory Palestine, Teva exported its medical products to Arab countries. In 1941, Friedländer presented Teva products in an exhibition held in Cairo, Egypt. The exhibition was sponsored by the General Agent and Sole Distribution of medicine in Egypt and Sudan, Syria and Lebanon. Later on, Teva exported its products to the US, Soviet Union (USSR), health institutes in Denmark, Czechoslovakia, Persia and Burma.

== 1950–1999 ==

In 1951, Feuchtwanger initiated an initial public offering to raise capital through the newly founded Tel-Aviv Stock Exchange and Teva became a public company. In 1954, Teva received a Certificate Excellence in Training award from the Israeli President, Yitzhak Ben Zvi.{{Citation needed|date=April 2020}} In 1964, Teva partnered with Sintex, a company from Mexico, and Schering Plough.{{Citation needed|date=April 2020}}

In 1964, Assia and Zori merged and in 1968 acquired a controlling stake in Teva.{{Cite web|url=http://www.israelnationalnews.com/News/News.aspx/149979|title=Former CEO of Teva Pharmaceuticals Dies at 79 - Inside Israel|last=Benari|first=Elad|date=22 November 2011|website=Israel National News|language=en|access-date=2020-04-21}} In 1976, the three companies merged into the modern-day Teva Pharmaceutical Industries Ltd. In 1980, Teva acquired Ikapharm, then Israel's second largest drug manufacturer.

In 1980, Teva acquired Plantex.{{cite web|url=http://www.tapi.com/About-US/WorldWide/Pages/PlantexLtd.aspx|title=Teva — Plantex Limited|work=tapi.com|access-date=November 7, 2014|archive-date=November 8, 2014|archive-url=https://web.archive.org/web/20141108010532/http://www.tapi.com/About-US/WorldWide/Pages/PlantexLtd.aspx|url-status=dead}}

In 1982, Teva was granted approval by the U.S. Food and Drug Administration (FDA) for its Kfar Saba manufacturing plant.{{Cite book|last1=Odagiri|first1=Hiroyuki|url=https://books.google.com/books?id=INEUDAAAQBAJ&pg=PA234|title=Intellectual Property Rights, Development, and Catch Up: An International Comparative Study|last2=Goto|first2=Akira|last3=Sunami|first3=Atsushi|last4=Nelson|first4=Richard R.|date=2010-04-08|publisher=OUP Oxford|isbn=978-0-19-957475-9|pages=234|language=en}}

In 1995, Teva acquired Biogal Gyógyszergyár Rt. (Debrecen, Hungary) and acquired ICI (Italy).{{Cite web|url=https://www.tevapharm.com/our-company/teva-history/|title=Improving health since 1901|website=www.tevapharm.com}}

== 2000s ==

In 2000, Teva acquired Canada-based Novopharm.{{cite web|url=http://www.newswire.ca/en/story/626423/novopharm-limited-becomes-teva-canada-limited|title=TEVA NOVOPHARM — Novopharm Limited becomes Teva Canada Limited|work=newswire.ca|access-date=November 7, 2014|archive-date=November 7, 2014|archive-url=https://web.archive.org/web/20141107101034/http://www.newswire.ca/en/story/626423/novopharm-limited-becomes-teva-canada-limited|url-status=dead}}

In October 2003, Teva announced its intentions to acquire Sicor Inc. for $3.4 billion.{{cite web|url=https://www.latimes.com/archives/la-xpm-2003-nov-01-fi-sicor1-story.html|title=Drug Maker Teva to Buy Sicor|author=Jerry Hirsch|work=Los Angeles Times|date=1 November 2003}} Following the announcement, the acquisition was completed on January 22, 2004, which marked Teva's entry into biosimilars' market.{{cite web|url=http://www.tevapharm.com/news/teva_completes_acquisition_of_sicor_01_04.aspx|title=Teva Completes Acquisition of Sicor|date=22 January 2004|access-date=January 6, 2018|archive-url=https://web.archive.org/web/20180107174902/http://www.tevapharm.com/news/teva_completes_acquisition_of_sicor_01_04.aspx|archive-date=January 7, 2018|url-status=dead}}

In 2005, Teva opened a new, state-of-the-art pharmaceutical manufacturing plant in Har Hotzvim, a technology park in Jerusalem. The plant received FDA approval in early 2007. Teva entered the Japanese market in 2005 and in 2008 established a generics joint venture with Kowa.{{cite web|title=Kowa, Teva to form generic drug venture|url=https://www.japantimes.co.jp/news/2008/09/25/business/kowa-teva-to-form-generic-drug-venture/|website=The Japan Times Online|access-date=20 August 2017|date=25 September 2008}}

In January 2006, Teva acquired its U.S. rival Ivax Corporation for $7.4 billion.Jennifer Bayot for the New York Times. July 26, 2005 [https://www.nytimes.com/2005/07/26/business/teva-to-acquire-ivax-another-maker-of-generic-drugs.html?_r=0 Teva to Acquire Ivax, Another Maker of Generic Drugs]Teva Press Release, 2006. [http://tevapharm.com/news/teva_completes_acquisition_of_ivax_01_06.aspx Teva Completes Acquisition of Ivax] In 2008, sales totalled $11.08 billion, $13.9 billion in 2009, and in 2010 total sales rose to $16.1 billion, of which a major portion was in Europe and North America. On December 23, 2008, Teva acquired Barr Pharmaceuticals for $7.5 billion, making Barr and Pliva (which Barr bought earlier) part of Teva.

== 2010s ==

On March 18, 2010, Teva said it planned to acquire German generic Ratiopharm for US$5 billion. The deal was completed in August 2010, significantly expanding Teva's European coverage. In May 2011, Teva bought Cephalon for US$6.8 billion. The same month, Teva announced the ¥40 billion purchase of a majority stake in Japanese generic drug company Taiyo Pharmaceutical Industry, a move to secure a Japan-local production facility. Teva completed the $934 million acquisition in July 2011.{{cite news| url= http://www.globes.co.il/serveen/globes/docview.asp?did=1000664169&fid=1725 |title= Teva completes $934m Taiyo acquisition| website= Globes.co.il| date= 14 July 2011}} In June 2013, Teva acquired US firm MicroDose Therapeutx for $40 million with as much as $125 million being paid in regulatory and developmental milestones {{cite news|url=https://www.bloomberg.com/news/2013-06-17/teva-adds-microdose-to-respiratory-business-in-165-million-deal.html|title=Teva Adds MicroDose to Respiratory Business in $165 Million Deal| first= David |last= Wainer|work=Bloomberg.com|date=June 17, 2013}} In 2010, Teva announced that it would build its main distribution center for the Americas in Philadelphia, PA, and was considering opening its US headquarters in the area. In 2010, it had 39,660 employees. In Israel, the number of workers rose 7.5% by 6,774. In October 2010, Teva entered a licensing agreement with BioTime to develop and market BioTime's OpRegen for the treatment of age-related macular degeneration,{{Cite web| url= https://www.businesswire.com/news/home/20101010005096/en/Cell-Cure-Neurosciences-Ltd.-Subsidiary-BioTime-Hadasit|title=Cell Cure Neurosciences Ltd., a Subsidiary of BioTime, Inc. and Hadasit Bio Holdings Ltd., Enters into an Exclusive License Option Agreement with Teva Pharmaceutical Industries Ltd.|date=October 11, 2010|website= businesswire.com}} an effort that in 2013 received $1.5 billion in funding from Israel's Office of the Chief Scientist.{{Cite web| url= https://www.businesswire.com/news/home/20130513005575/en/BioTime%E2%80%99s-Subsidiary-Cell-Cure-Neurosciences-Ltd.-Awarded|title=BioTime's Subsidiary Cell Cure Neurosciences Ltd. Awarded $1.5 Million Grant from Israel's Office of the Chief Scientist|date=May 13, 2013|website= businesswire.com}}

In May 2011, Teva announced it would purchase Cephalon for US$6.8 billion.{{Cite web|url=https://dealbook.nytimes.com/2011/05/02/teva-to-buy-cephalon-for-6-8-billion/|title=Teva to Buy Cephalon for $6.8 Billion|last=Nicholson|first=Chris V.|date=2 May 2011|website=The New York Times|language=en|access-date=2020-04-21}}

In January 2014, Teva acquired NuPathe, after outbidding Endo, for $144 million. In June 2014, Teva acquired Labrys Biologics for up to $825 million,{{cite news |title= Teva Buys Labrys, Growing Pain Franchise in Up to $825M Deal |author=Staff |work=Genetic Engineering & Biotechnology News |date=June 3, 2014 |url=http://www.genengnews.com/gen-news-highlights/teva-buys-labrys-growing-pain-franchise-in-up-to-825m-deal/81249936/ |access-date=July 21, 2014 }} the aim being to strengthen the company's migraine pipeline through addition of LBR-101, an anti-CGRP monoclonal antibody therapeutic.{{cite news |last1= George |first1=John |title=Teva completes deal for second migraine-treatment developer |url=http://www.bizjournals.com/philadelphia/blog/health-care/2014/07/teva-completes-deal-for-second-migrainetreatment.html |access-date=July 21, 2014 |work=Philadelphia Business Journal |date=July 21, 2014 }}

In March 2015, Teva acquired Auspex Pharmaceuticals for $3.5 billion growing its CNS portfolio.{{cite news|url=http://www.genengnews.com/gen-news-highlights/teva-to-acquire-auspex-for-3-5b-growing-cns-portfolio/81251086/ |author=Staff |date=March 30, 2015 |access-date=April 21, 2015 |title=Teva to Acquire Auspex for $3.5B, Growing CNS Portfolio |department=GEN News Highlights |work=Genetic Engineering & Biotechnology News }} In April, Teva offered to acquire Mylan for $40 billion,{{cite news|url=http://www.genengnews.com/gen-news-highlights/teva-offers-to-buy-mylan-for-40b/81251178/ |title=Teva Offers to Buy Mylan for $40B |date=April 21, 2015 |author=Staff |access-date=April 21, 2015 |work=Genetic Engineering & Biotechnology News |department=GEN News Highlights }} only a fortnight after Mylan offered to buy Perrigo for $29 billion.{{cite news |url= http://www.genengnews.com/gen-news-highlights/mylan-offers-28-9b-for-perrigo/81251129/ |author=Staff |title=Mylan Offers $28.9B for Perrigo |work=Genetic Engineering & Biotechnology News |department=GEN News Highlights |date=April 8, 2015 |access-date=April 21, 2015 }} Teva's offer for Mylan was contingent on Mylan abandoning its pursuit of Perrigo.{{cite news |agency= Associated Press |title=Teva Offers to Buy Mylan in $40.1B Cash-And-Stock Deal |date=April 21, 2015 |access-date=April 21, 2015 |work=Pharmaceutical Processing |url=http://www.pharmpro.com/news/2015/04/teva-offers-buy-mylan-401b-cash-and-stock-deal?et_cid=4527542&et_rid=280926499&location=top }} Mylan stated in June 2015 that Teva's disclosure that it had a 1.35 percent stake in Mylan violated US antitrust rules.{{cite news| first= Anjali | last= Rao Koppala |url=https://www.reuters.com/article/us-mylan-m-a-teva-pharm-ind-idUSKBN0OH3H520150601 |title=Mylan says Teva's stake buy violates U.S. antitrust rules |publisher=Reuters |date=1 June 2015 |access-date=2 June 2015}} In October, the company acquired Mexico-based Representaciones e Investigaciones Medicas (Rimsa) for around $2.3 billion.{{cite web |url= http://www.fiercepharma.com/story/teva-beefs-emerging-markets-23b-rimsa-buyout/2015-10-01|title=Teva beefs up in emerging markets with $2.3B Rimsa buyout |website= FiercePharma.com |date=October 2015 }} In the same month Teva acquired Gecko Health Innovations.{{cite web|url=http://www.fiercepharmamarketing.com/story/teva-snaps-gecko-and-its-smart-inhaler-pump-respiratory-meds/2015-10-05|title=Teva snaps up Gecko and its 'smart inhaler' to pump up respiratory meds |website= FiercePharma.com }} In November 2015, the company announced it would collaborate with Heptares Therapeutics with its work on small-molecule calcitonin gene-related peptide antagonists for migraine treatment, with the deal generating up to $410 million.{{cite web|url=http://www.genengnews.com/gen-news-highlights/teva-heptares-launch-up-to-410m-migraine-alliance/81252024/|title=Teva, Heptares Launch Up-to-$410M+ Migraine Alliance| website= GEN Eng News | date= November 25, 2015}}

Teva Active Pharmaceutical Ingredients (TAPI) operates within Teva as a stand-alone business unit. In 2009, TAPI's sales to third parties totaled $565 million, and in 2010 sales rose by 13% to a total of $641 million.{{citation needed|date=July 2017}}

In July 2017, it was reported that Pascal Soriot, CEO of AstraZeneca since 2012, would become the next CEO of Teva, succeeding Erez Vigodman,{{cite web|url= https://www.reuters.com/article/us-teva-pharm-ind-astrazeneca-ceo-idUSKBN19X2OB?il=0 |title=AstraZeneca's CEO Soriot to join Israeli drugs company Teva: report |publisher=Reuters |date=2014-05-14 |access-date= 2017-07-12}}{{cite web|url=https://endpts.com/israeli-newspaper-reports-that-astrazeneca-ceo-pascal-soriot-has-agreed-to-take-the-helm-at-teva/ |title=Israeli newspaper reports that AstraZeneca CEO Pascal Soriot has agreed to take the helm at Teva – ENDPOINTS NEWS |website= Endpts.com |access-date=2017-07-12}} however this was soon refuted.{{cite news| url= https://www.telegraph.co.uk/business/2017/07/14/pascal-soriot-looks-set-stay-astrazeneca-chief/ |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/business/2017/07/14/pascal-soriot-looks-set-stay-astrazeneca-chief/ |archive-date=January 12, 2022 |url-access=subscription |url-status=live|title=Pascal Soriot looks set to stay as AstraZeneca chief|work=The Daily Telegraph|last= Boland| first= Hannah |date=July 14, 2017|access-date= May 15, 2018}}{{cbignore}} As of August 2017, the company has struggled to attract a new CEO, leading to mounting questions for the board.{{cite news|last1=Jones|first1=Rory|title=Teva Pharmaceutical Industries faces high price for new chief|url=http://www.theaustralian.com.au/business/wall-street-journal/teva-pharmaceutical-industries-faces-high-price-for-new-chief/news-story/49f6127a1fd8ca5c809bdf7be9a4193b|access-date=6 August 2017| work= The Wall Street Journal |date=7 Aug 2017}} In August 2017, the board of directors announced a 75% cut in the dividend, reflecting declining profitability, and the share price fell by almost half in the days following.{{cite press release| url= http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Mzg1MTE3fENoaWxkSUQ9LTF8VHlwZT0z&t=1&cb=636373238980296840| title= Teva Reports Second Quarter 2017 Financial Results| publisher= Teva| date= 3 August 2017| website= corporate-ir.net| access-date= 8 August 2017| archive-date= August 24, 2019| archive-url= https://web.archive.org/web/20190824024907/http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Mzg1MTE3fENoaWxkSUQ9LTF8VHlwZT0z&t=1&cb=636373238980296840| url-status= dead}}{{cite web|url=https://www.google.com/finance/quote/TEVA:NYSE|title=Teva stock price chart| website= Google Finance| access-date=8 August 2017}} As of September 11, 2017, Teva remained the "world's biggest seller of generics medicines." On September 11, 2017, it was reported that they had selected Kåre Schultz as the new Teva CEO.{{cite news| url= https://www.wsj.com/articles/teva-names-kare-schultz-as-new-chief-executive-1505115189|title=Teva Appoints New Chief Executive After Months of Speculation| first= Rory | last= Jones|date=September 11, 2017| work= Wall Street Journal|access-date= September 11, 2017|location=New York City, New York|url-access=subscription}} A day later the company announced it would sell its Paragard contraceptive brand to Cooper Cos for $1.1 billion, with the funds being used to pay down debt.{{cite web|url=https://uk.reuters.com/article/us-teva-pharm-ind-divestiture-contracept-idUKKCN1BM2KQ|archive-url=https://web.archive.org/web/20190221224134/https://uk.reuters.com/article/us-teva-pharm-ind-divestiture-contracept-idUKKCN1BM2KQ|url-status=dead|archive-date=February 21, 2019|title=Teva to sell contraceptive brand Paragard in $1.1 billion deal |date= September 11, 2017|access-date=February 21, 2019| publisher= Reuters}} Days later the company announced further divestments: a sale of contraception, fertility, menopause and osteoporosis products to CVC Capital Partners Fund VI for $703 million and its emergency contraception brands for $675 million to Foundation Consumer Healthcare.{{cite web |url= https://www.fiercepharma.com/m-a/teva-finishes-women-s-health-sale-deals-worth-1-38b|title=Teva finishes women's health sale with deals worth $1.38B | website= fiercepharma.com|date=September 18, 2017 | access-date= February 21, 2019}} By December, the company had announced a drastic 25 percent workforce reduction (greater than 14,000 employees) as part of a two-year cost-reduction strategy.{{Cite news |url= https://www.firstwordpharma.com/node/1530082|title=Teva to cut over 25 percent of global workforce|last=Barber|first=Joe|date=December 14, 2017|work=First Word Pharma Plus|access-date=February 9, 2018| publisher= Doctor's Guide Publishing Limited|url-access=subscription}} Following considerable lobbying by the Israeli Government, from whom Teva received considerable tax breaks,{{Cite web| url= http://www.jpost.com/Israel-News/Economy-minister-Teva-should-earn-its-tax-breaks-519754|title= Economy Minister: Teva Should Earn Its Tax Breaks |last= Schindler |first= Max| date= December 22, 2017| work= Jerusalem Post}} and from Israel's labor federation, the Histadrut, Teva agreed to delay some of the layoffs in Israel.{{Cite web |url= http://www.jpost.com/Israel-News/Teva-delays-33-percent-of-Jerusalem-layoffs-until-2019-522541|title= Teva Dewlays 33% of Jerusalem Layoffs Until 2019 |last=Weinreb|first=Gali|date=January 1, 2018| work= Jerusalem Post}}

In October 2019, Teva faced criticism for making a "business decision to discontinue the drug" Vincristine, essential for the treatment of most childhood cancers according to the Food and Drug Administration.The New York Times, "Faced with a Drug Shortfall, Doctors Scramble to Treat Children with Cancer," Oct 28, 2019 [https://www.nytimes.com/2019/10/14/health/cancer-drug-shortage.html]ABC News, "Shortage of critical cancer drug forcing some children to go without," Oct 22, 2019 [https://abcnews.go.com/Health/shortage-critical-cancer-drug-forcing-children/story?id=66411784]

=== Actavis Generics ===

{{Main|Actavis}}

In July 2015, Allergan agreed to sell its generic drug business (Actavis Generics{{cite web|url=http://www.fiercepharma.com/pharma/analyst-cuts-allergan-generics-sales-estimates-as-teva-deal-close-nears|title=Analyst cuts Allergan generics sales estimates as Teva deal close nears |website= FiercePharma.com |date=June 16, 2016 }}) to Teva for $40.5 billion{{cite news| url= https://www.bloomberg.com/news/videos/2015-07-27/teva-to-buy-allergan-s-generic-drug-unit|title=Teva to Buy Allergan's Generic Drug Unit|date=July 27, 2015|work=Bloomberg.com}}{{cite news|url=https://www.bloomberg.com/news/articles/2015-07-27/teva-ceo-sees-more-deals-coming-after-40-5b-allergan-purchase|title=Teva CEO: $40.5 Billion Allergan Deal is Just the Beginning - Bloomberg Business|author=Cynthia Koons|date=July 27, 2015|work=Bloomberg.com}}{{cite news|url=https://www.bloomberg.com/news/videos/2015-07-27/teva-purchasing-allergan-s-generics-unit-in-40-5b-deal|title=Teva Purchasing Allergan's Generics Unit in $40.5B Deal|date=July 27, 2015|work=Bloomberg.com}} ($33.75 billion in cash and $6.75 billion worth of shares).{{cite news| url= https://www.bloomberg.com/news/articles/2015-07-27/teva-snaps-up-allergan-s-generics-arm-dumping-mylan|title=Teva Snaps Up Allergan's Generics Arm, Dumping Mylan| first= Chitra |last= Somayaji|date=July 27, 2015| work= Bloomberg.com}} As a result, Teva dropped its pursuit of Mylan. In order for the deal to gain regulatory approval, Teva sold off a number of assets, including a portfolio of five generic drugs to Sagent Pharmaceuticals for $40 million, as well as a further eight medicines to Dr. Reddy's in a $350 million deal. Teva also sold a further 15 marketed generics, as well as three others that were close to market, for $586 million to Impax Laboratories.{{cite web|url=http://www.genengnews.com/gen-news-highlights/impax-buys-generic-product-portfolio-from-teva-allergan-for-586m/81252854/|title=Impax Buys Generic Product Portfolio from Teva, Allergan for $586M | work= GEN Genetic Engineering & Biotechnology News |date=June 21, 2016 |publisher= Mary Ann Liebert, Inc. }}{{cite web| url= http://www.fiercepharma.com/pharma/teva-sells-cast-offs-to-impax-for-586m-as-clock-ticks-allergan-deal|title=Teva sells castoffs to Impax for $586M as clock ticks on Allergan deal |website= FiercePhama.com |date=June 21, 2016 }} In July, Teva sold off a further 42 products to Australian generics company, Mayne Pharma, for $652 million; the deal moved Mayne up 50 spots, into the top-25 companies of US generic companies.{{cite web|url=http://www.fiercepharma.com/pharma/mayne-scoops-up-42-meds-from-teva-allergan-652m-deal|title=Mayne vaults ahead in U.S. with $652M deal for Teva/Allergan meds |website= FiercePharma.com |date=June 28, 2016 }} As part of the deal Teva will seek to raise $20 to $25 billion{{cite web|url=http://www.fiercepharma.com/pharma/teva-looks-for-20b-plus-from-bond-sale-to-finance-allergan-deal|title=Teva looks for $20B-plus from bond sale to finance Allergan deal |website= FiercePharma.com |date=July 14, 2016 }} through a bond sale.{{cite web| url= https://www.sec.gov/Archives/edgar/data/818686/000119312516647185/d220417d6k.htm|title=Form 6-K|publisher= Securities & Exchange Commission| website= SEC.gov}}

After completing the $39 billion acquisition of Actavis Generics, Teva announced another, smaller, deal with Allergan, agreeing to acquire its generic distribution business Anda for $500 million.{{cite web|url=http://www.genengnews.com/gen-news-highlights/after-completing-39b-acquisition-teva-does-another-generics-deal-with-allergan/81253042/|title=After Completing $39B Acquisition, Teva Does Another Generics Deal with Allergan | work= GEN Genetic Engineering & Biotechnology News |publisher= Mary Ann Liebert, Inc. |date= August 3, 2016 |access-date=May 23, 2017}}

=== 2010s divestments ===

On October 21, 2011, Par Pharmaceutical has sealed the deal to three products from Teva Pharmaceutical Industries, which the Israeli firm was required by the US Federal Trade Commission to divest before it could acquire US biotech Cephalon for $6.8 billion.{{cite web|url=https://scrip.pharmaintelligence.informa.com/SC014919/Par-acquires-Tevas-divested-ANDAs-and-is-already-shipping-fentanyl-citrate|title=Par acquires Teva's divested ANDAs, and is already shipping fentanyl citrate|date=October 21, 2011|website=Scrip|access-date=May 27, 2019}}

Following the acquisition of Allergan plc generic division some assets have been sold off to meet US antitrust requirements.{{cite web|url=https://tevapharm.com/news/teva_completes_acquisition_of_actavis_generics_08_16.aspx|title=Teva Completes Acquisition of Actavis Generics|website=tevapharm.com|access-date=May 27, 2019}} In June 2016 Indian pharmaceutical company Dr. Reddy's Laboratories Ltd bought 8 (ANDA) Abbreviated New Drug Applications for $350 million in cash.{{cite news|url=https://www.reuters.com/article/us-dr-reddys-m-a-teva-pharm-ind-idUSKCN0YX060|title=India's Dr Reddy's in $350 million deal to buy eight U.S. drugs...|newspaper=Reuters|date=June 11, 2016|access-date=May 27, 2019|via=www.reuters.com}} Also in June 2016 Teva sold two ANDAs to Indian pharmaceutical company Zydus Cadilla, strengthening its US portfolio.{{cite web|url=https://www.vccircle.com/zydus-cadila-acquires-two-drugs-teva-strengthen-us-portfolio|title=Zydus Cadila acquires two drugs from Teva to strengthen US portfolio|date=June 20, 2016|website=VCCircle|access-date=May 27, 2019}} On June 21, 2016, American pharmaceutical company Amneal Pharmaceutical previously known as Impax Laboratories bought a portfolio of generic drugs from Teva Pharmaceutical Industries for about $586 million.{{cite web|url=http://fortune.com/2016/06/21/impax-teva-allergan-purchase/|title=Impax Buys Generic Drugs from Teva and Allergan for $586 Million|website=Fortune|access-date=May 27, 2019}} On July 29, Cipla an Indian pharmaceutical company bought three products from Teva.{{cite web|url=https://www.vccircle.com/cipla-aurobindo-pharma-acquire-drugs-teva|title=Cipla, Aurobindo Pharma to acquire drugs from Teva|date=July 29, 2016|website=VCCircle|access-date=May 27, 2019}} Indian pharmaceutical company, Aurobindo, was in the race to buy some Teva assets. In October 2016, Teva has sold off part of its UK and Ireland generic business to Indian pharmaceutical company Intas Pharma for 600 million pounds (5083 crore Indian rupees) in cash.{{cite web|url=https://www.livemint.com/Companies/53O8sd83yS6eUTHNTE3YcJ/Intas-Pharma-to-acquire-Tevas-UK-Ireland-generics-business.html|title=Intas Pharma to buy Teva's UK, Ireland generics businesses|first=Swaraj Singh Dhanjal, Reghu|last=Balakrishnan|date=October 5, 2016|website=Mint|access-date=May 27, 2019}} In August 2016, Australia pharmaceutical company Mayne Pharmaceutical bought a portfolio of drugs from pharmaceutical giant Teva Pharmaceuticals last year for $845 million Australian dollars.{{cite web|url=https://www.afr.com/business/health/pharmaceuticals/mayne-pharma-profit-soars-on-teva-deal-20170223-guk039|title=Mayne Pharma profit soars on Teva deal|date=February 23, 2017|website=Australian Financial Review|access-date=May 27, 2019}} In February 2018, Teva Pharmaceutical Industries Ltd has completed the sale of a portfolio of products within its global women's health business across contraception, fertility, menopause and osteoporosis for $703 million in cash to CVC Capital Partners Fund VI.{{cite web|url=https://www.businesswire.com/news/home/20180201005087/en/Teva-Announces-Completion-Global-Women%E2%80%99s-Health-Divestiture|title=Teva Announces Completion of Global Women's Health Divestiture to CVC Capital Partners|date=February 1, 2018|website=www.businesswire.com|access-date=May 27, 2019}} Teva also agreed to sell its Plan B One-Step and its brands of emergency contraception to Foundation Consumer Healthcare for $675 million in cash. Combined annual net sales of these products were $140 million last year.{{cite news|url=https://www.reuters.com/article/us-teva-pharm-ind-divestiture-idUSKCN1BT1DO|title=Teva Pharma to sell more women's health assets for $1.38 billion|newspaper=Reuters|date=September 18, 2017|access-date=May 27, 2019|via=www.reuters.com}} It also sold Paragard to a unit of Cooper Companies Inc (COO.N) for $1.1 billion.

=Acquisition history=

The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):

{{clade | style=font-size:90%;line-height:110% |thickness=0

|label1=Teva Pharmaceutical Industries

|1= {{clade

|label1=

|1=Gecko Health Innovations
(Acq 2015)

|2= {{clade

|label1=

|1=Rimsa
(Acq 2015)

|3= {{clade

|label1=

|1=Actavis Generics
(Generic drug div Allergan, plc, Acq 2015)

|4= {{clade

|label1=

|1=Auspex Pharmaceuticals
(Acq 2014)

|5= {{clade

|label1=

|1=Labrys Biologics
(Acq 2014)

|6= {{clade

|label1=

|1=NuPathe after
(Acq 2014)

|7= {{clade

|label1=

|1=MicroDose
(Acq 2013)

|8= {{clade

|label1=

|1=Taiyo Pharmaceutical Industry
(Acq 2011)

|9= {{clade

|label1=Cephalon
(Acq 2011)

|1= {{clade

|label1=

|1=Arana Therapeutics
(Acq 2009)

|2= {{clade

|label1=

|1=ChemGenex Pharmaceuticals
(Acq 2011)

}} }}

|10= {{clade

|label1=

|1=Ratiopharm
(Acq 2010)

|11= {{clade

|label1=

|1=Barr Pharmaceuticals
(Acq 2008)

|12= {{clade

|label1=

|1=IVAX Corporation
(Acq 2006)

|13= {{clade

|label1=

|1=Novopharm
(Acq 2000)

|14= {{clade

|label1=

|1=Plantex
(Acq 1980)

|15= {{clade

|label1=

|1=Ikapharm
(Acq 1980)

|16= {{clade

|label2=

|1=Salomon, Levin, and Elstein Ltd
(Merged 1976 to form Teva Pharmaceutical Industries Ltd)

|label3=

|2=Assia
(Merged 1976 to form Teva Pharmaceutical Industries Ltd)

|label4=

|3=Zori
(Merged 1976 to form Teva Pharmaceutical Industries Ltd)

|17= {{clade

|label5=

|1=Glaxo
(Acq 1914)

|2=Margarine Unie
(Acq 1924)

|3=Allen & Hanburys
(Merged 1976 to form Teva Pharmaceutical Industries Ltd)

}} }} }} }} }} }} }} }} }} }} }} }} }} }} }} }} }} }}

Corporate governance

class="wikitable"
Chief Executive OfficerPeriod of officeNotes
Eli Hurvitz1976 to 2002CEO & Chairman of the board until his death in 2011.
Israel Makov2002 to 2007
Shlomo YanaiMarch 2007 to May 2012Announced his resignation at the beginning of 2012.
Jeremy LevinMay 2012 to October 2013
Eyal DeshehOctober 2013 to January 2014Interim CEO
Erez VigodmanJanuary 2014 to February 2017Desheh returned to previous position of chief financial officer. Vigodman served as the CEO of Makhteshim Agan until joining Teva, and was president and CEO of Strauss Group prior to this. From 2014, Michael Hayden served as Teva's chief scientific officer and president of the company's global research and development.
Yitzhak Peterburg

|February 2017 to Sept 2017

|Peterburg held the position of chairman since 2015. He was appointed as interim president and CEO in 2017 succeeding Erez Vigodman. Since Israeli law does not permit the same individual to serve as CEO and chairman, Sol J Barer took over as the chairman of the board in February 2017.{{Cite web|url=https://sso.tevapharm.com/adfs/ls/?SAMLRequest=lZJLa8JAFIX3%2FRVh9uZV0XQwEVuRChbFxC66u0luzJRkJp070f78xhe1pQhdDpz7ncM5Mxp%2F1pW1Q01CyZB5tssslJnKhdyGbJPMegEbR3cjgrryGz5pTSnX%2BNEiGWtChNp0d09KUlujjlHvRIab9SJkpTENcccxuAOUBnWjBaEtcU97hM7QzlTtHLBOHC8dqATQLzGzpp2NkGCO2S5EImUfhE0Juj5SIC%2FIqchh1kzpDI8hQ1ZAdWDMpyGDoJ9mZVkExQO%2BF6m%2FHaSYQzkscTjIoNPQCojEDr%2BviFqcSzIgTch81%2Fd6br%2Fn%2Bonnctfj3sC%2B7wdvzFppZVSmqkchT5W1WnIFJIhLqJG4yXg8eVlw33Z5ehIRf06SVW%2B1jBNmvV6q9w%2FVd2NI4qeyb7OaszGLTtvwY2J9TbgNgMt6LPrHVjUayMHAn4ONnOso0fn589dEXw%3D%3D&SigAlg=http%3A%2F%2Fwww.w3.org%2F2001%2F04%2Fxmldsig-more%23rsa-sha256&Signature=pduM%2Fzy8pnIOtkSAu5TmgJ0WpFf8WjwbUAgFuqh4svi4gBjB7%2FNxNTLr7jn5Zkf%2B74KRnCZZLxaal3t2hK%2FT%2Bk92sQjMrzttzNh9%2BquyDwncguKpkePlnshYuSiv3O7C7QzbwQ%2BGaGLWRduDuuIsRmQJqOEhMpOj9KLTi%2Ffrvs0sDTSfLJrRaNChMrxR8GZXwWDxKGb0fen1bm2oVnDXLl4a30N3SV9ddXBhaU0lTpMD1EP%2BOoHql9h13gzoXZgVqSBf%2B5DGF%2FrA3AxqU5mshmoHiRjsbKvNNGUMdH8WqTe7HUzlwuPhYGLgQFgSubOjLEfRTQZ3R3LJigKEoP%2FQSQ%3D%3D|title=Sign In|website=sso.tevapharm.com}}

Kåre Schultz

|September 2017 – 2022

|Schultz was appointed as the CEO and president succeeding the acting president and CEO Yitzhak Peterburg.{{Cite news|url=https://www.wsj.com/articles/teva-names-kare-schultz-as-new-chief-executive-1505115189|title=Teva Appoints New Chief Executive After Months of Speculation|url-access=subscription|last=Jones|first=Rory|date=2017-09-11|work=Wall Street Journal|access-date=2017-09-12|language=en-US|issn=0099-9660}}{{Cite news|url=https://www.reuters.com/article/us-teva-pharm-ind-ceo/israels-teva-pharma-appoints-h-lundbecks-kare-schultz-as-ceo-idUSKCN1BM0LU|title=Drugmaker Teva hires Lundbeck CEO Schultz to restore its health|date=September 11, 2017|last1=Scheer|first1=Steven|last2=Jacobsen|first2=Stine|work=Reuters|access-date=2017-09-12}}

Richard Francis

|January 2023 – present

|[https://www.tevapharm.com/news-and-media/latest-news/teva-announces-appointment-of-richard-francis-as-president-and-ceo/]

Research and development

File:Copaxone.jpg, a Teva patented drug]]

Teva holds patents on multiple drugs, including Copaxone, a specialty drug (for the treatment of multiple sclerosis), now the world's best selling MS drug,{{cite web | url=https://www.reuters.com/article/teva-pharm-ind-results-idUSL5N10A3VA20150730 | title=Teva's MS drug Copaxone has strong second-quarter sales | work=Reuters | date=July 2015 | access-date=16 October 2015 | location=Jerusalem, Israel}} and Azilect (sold as Agilect in some countries) for treatment of Parkinson's disease. By July 2015, Copaxone held a "31.2 percent shares of total MS prescriptions in the United States." Teva's new 40 mg version of Copaxone taken three times a week "accounted for 68.5 percent of total Copaxone prescriptions in the United States." Copaxone accounts for about fifty percent of "Teva's profit and 20 percent of revenue." Competitors' Glatopa, 20 mg version of Copaxone, is taken once a day.

In June 2006, Teva received from the FDA 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{{When|date=March 2010}} competes with the maker of brand-name Zocor, Merck & Co.; Ranbaxy Laboratories, which has 180-day exclusivity for the 80 mg strength; and Dr. Reddy's Laboratories, whose authorized generic version (licensed by Merck) is exempt from exclusivity.

In June 2010, the company announced it would discontinue its production of propofol, a major sedative estimated to be used in 75% of all US anesthetic procedures.

In March 2015, Teva sold four anti-cancer compounds to Ignyta Inc. for $41.6 million. As part of the deal Teva sold the following compounds which were then renamed:{{cite web|url=http://www.genengnews.com/gen-news-highlights/ignyta-buys-four-cancer-compounds-from-teva/81251046/|title=GEN — News Highlights:Ignyta Buys Four Cancer Compounds from Teva|work=GEN|date=March 18, 2015}}

  • CEP-32496 (renamed RXDX-105) a small molecule inhibitor of BRAF, EGFR and RET, now in Phase I/II trials
  • CEP-40783 (renamed RXDX-106) a small molecule inhibitor of AXL and c-Met in preclinical development
  • CEP-40125 (renamed RXDX-107) a nanoformulation of a modified bendamustine with potential activity in solid tumours. Bendamustine Rapid Infusion as therapy for CLL and NHL is part of Teva's specialty drugs pipeline.{{cite web | url=http://www.tevapharm.com/research_development/rd_focus/pipeline/ | title=Our Specialty Pipeline | work=Teva Pharmaceutical Industries | date=nd | access-date=16 October 2015}}
  • TEV-44229 (renamed RXDX-108) a potent inhibitor of the kinase PKCiota

In July 2019, the company stopped production of Vincristine, a critical drug used to treat the most common forms of childhood cancer, and was criticized by media for creating a worldwide shortage of the drug.{{Cite news|url=https://www.nytimes.com/2019/10/14/health/cancer-drug-shortage.html|title=Faced With a Drug Shortfall, Doctors Scramble to Treat Children With Cancer|first=Roni Caryn|last=Rabin|newspaper=The New York Times|date=October 14, 2019}} On 28 January 2020, the company announced that the Food and Drug Administration (FDA) had approved an autoinjector device for Ajovy (fremanezumab-vfrm) injection.{{Cite web|url=https://www.tevapharm.com/news-and-media/latest-news/teva-announces-fda-approval-of-ajovy-fremanezumab-vfrm-injection-autoinjector-/|title=Teva Announces FDA Approval of AJOVY® (fremanezumab-vfrm) Injection Autoinjector|website=www.tevapharm.com|language=en|access-date=2020-02-14}}

Controversies

In 2010s section: Following Russia's invasion of Ukraine in 2022, Teva Pharmaceuticals faced criticism for continuing its operations in Russia despite international sanctions. While the company committed to stopping new investments, its focus on ensuring an uninterrupted supply of medicines has raised ethical concerns, with critics arguing that Teva's presence weakens the impact of sanctions aimed at pressuring Russia economically.{{Cite web |title=Israel-based pharma multinational Teva maintaining normal operations in Russia |url=https://tass.com/economy/1422269 |access-date=2024-12-05 |website=TASS}}{{Cite web |date=2022-09-22 |title=Israel's Teva pharmaceuticals company keeps selling to Russia despite sanctions |url=https://www.jpost.com/business-and-innovation/all-news/article-717969 |access-date=2024-12-05 |website=The Jerusalem Post {{!}} JPost.com |language=en}}{{Cite web |last=News |first=GxP |date=2022-03-15 |title=Teva in Russia is working in its standard operating mode {{!}} News |url=https://gxpnews.net/en/2022/03/teva-in-russia-is-working-in-its-standard-operating-mode/ |access-date=2024-12-05 |website=GxP News |language=en-US}}

Legal issues

On June 25, 2010, Bayer sued Teva for falsely claiming that Teva's Gianvi was stabilized by betadex as a clathrate, and could consequently be advertised as a generic of Yaz. The settlement resulted in Teva changing its product marketing to remove the claim that it used the same ingredients as Yaz. Bayer's method specifically prevents oxidative degradation of the estrogen, while Teva's does not.

In January 2015, the Supreme Court of the United States decided for Teva on the Copaxone patent in Teva Pharmaceuticals USA, Inc. v. Sandoz, Inc.{{cite web|title=Teva Pharmaceuticals USA, Inc. v. Sandoz, Inc.|url=http://www.scotusblog.com/case-files/cases/teva-pharmaceuticals-usa-inc-v-sandoz-inc/?wpmp_switcher=desktop|website=SCOTUSblog|access-date=January 27, 2015}}

In December 2016, the attorneys general of 20 states filed a civil complaint accusing Teva of a coordinated scheme to artificially maintain high prices for a generic antibiotic and diabetes drug. The complaint alleged price collusion schemes between six pharmaceutical firms including informal gatherings, telephone calls, and text messages.{{cite news |last=Thomas |first=Katie |url=https://www.nytimes.com/2016/12/15/business/generic-drug-price-lawsuit-teva-mylan.html |title=20 States Accuse Generic Drug Companies of Price Fixing |work=The New York Times |date=2016-12-15 |access-date=2016-12-16 }}

In January 2019, the Supreme Court of the United States decided for Teva in Helsinn Healthcare S.A. v. Teva Pharmaceuticals USA Inc.{{cite web|url=https://www.scotusblog.com/case-files/cases/helsinn-healthcare-s-a-v-teva-pharmaceuticals-usa-inc/|title=Helsinn Healthcare S.A. v. Teva Pharmaceuticals USA Inc.|website=SCOTUSblog|access-date=February 21, 2019}}

On May 11, 2019, Teva Pharmaceuticals USA was one of 19 drug companies sued for price fixing in the United States by 44 states for inflating its prices, sometimes up to 1000%, in an illegal agreement among it and its competitors.{{Cite web|url=https://www.cnbc.com/2019/05/11/us-states-accuse-teva-and-other-drugmakers-of-colluding-to-inflate-prices-over-1000percent.html|title=Drugmakers allegedly inflated prices over 1,000% and 44 states are now suing|date=2019-05-11|website=CNBC|language=en|access-date=2019-05-12}} In June 2021, Teva agreed to pay $925M to settle allegations it had engaged in price fixing in Mississippi.{{Cite web|title=Teva reaches $925K settlement with Mississippi in price-fixing case—and it hopes other states will follow suit|url=https://www.fiercepharma.com/pharma/teva-reaches-925k-settlement-mississippi-as-part-generic-price-fixing-case|access-date=2022-02-22|website=FiercePharma|date=June 23, 2021 |language=en}} In January 2022, Teva agreed to pay $425M to settle allegations that it had concealed price fixing practices from shareholders.{{Cite web|title=Teva ponies up $420M to settle with investors who said company hid price-fixing scheme|url=https://www.fiercepharma.com/pharma/teva-ponies-up-420-million-to-settle-investors-who-alleged-company-hid-price-fixing-scheme|access-date=2022-02-22|website=FiercePharma|date=January 19, 2022 |language=en}}

In May 2019, Teva Pharmaceuticals USA agreed to pay $85 million to the U.S. state of Oklahoma to settle allegations that it had been overprescribing opioids, marketing them as safe, and downplaying their addictive qualities.{{Cite news|url=https://www.bbc.com/news/world-us-canada-48437082|title=Johnson & Johnson in billion-dollar opioid trial|date=2019-05-28|access-date=2019-05-31|language=en-GB}}

In July 2019, Teva paid $69 million to settle pay-for-delay claims.{{Cite web|url=https://www.latimes.com/business/story/2019-07-29/drugmakers-settle-california-pay-for-delay-lawsuits|title=Three drugmakers settle with California over deals to keep generic medications off the market|date=July 29, 2019|website=Los Angeles Times}}

In January 2020, Teva Pharmaceuticals agreed to pay $54 million to settle allegations under the False Claims Act that it violated the Anti-Kickback Statute by funding improper speaking programs to boost prescriptions. {{Cite web |date=2020-01-06 |title=TEVA Agrees To Pay $54 Million To Settle McEldrew Young False Claims Act Qui Tam Whistleblower Lawsuit - Young Law Group |url=https://young-lawgroup.com/news/teva-to-pay-54-million/ |access-date=2024-12-04 |language=en-US}}

In 2021, New York Attorney General Letitia James filed a lawsuit against Teva and several other opioid manufacturers for their alleged contribution to the opioid epidemic in New York.{{Cite news|last=Nir|first=Sarah Maslin|date=2021-06-29|title=Major Trial Against Opioid Suppliers Begins in New York|language=en-US|work=The New York Times|url=https://www.nytimes.com/2021/06/29/nyregion/opioids-in-new-york.html|access-date=2021-07-01|issn=0362-4331}}

In February 2022, Teva agreed to a $225 million settlement with the state of Texas to end claims that it fueled an opioid epidemic in the state by improperly marketing pain medicine.{{Cite web|date=2022-02-09|title=Teva Pharmaceuticals to Pay $225M to Texas to Settle Opioid Epidemic Claims|url=https://topclassactions.com/lawsuit-settlements/prescription/opioids/teva-pharmaceuticals-to-pay-225m-to-texas-to-settle-opioid-epidemic-claims/|access-date=2022-02-15|website=Top Class Actions|language=en}}

In August 2023, Teva admitted to price-fixing charges related to the generic cholesterol drug Pravastatin, and agreed to pay a $225 million fine, after a criminal investigation by the US Department of Justice. {{Cite web |last=Maruf |first=Ramishah |date=2023-08-21 |title=Teva to pay $225 million fine and divest cholesterol drug to settle price-fixing charges {{!}} CNN Business |url=https://www.cnn.com/2023/08/21/investing/teva-pharmaceuticals-price-fixing-settlement/index.html |access-date=2023-08-24 |website=CNN |language=en}} The US Department of Justice stated that the settlement was "the largest to date for a domestic antitrust cartel."{{Cite web |date=2023-08-21 |title=Office of Public Affairs {{!}} Major Generic Drug Companies to Pay Over Quarter of a Billion Dollars to Resolve Price-Fixing Charges and Divest Key Drug at the Center of Their Conspiracy {{!}} United States Department of Justice |url=https://www.justice.gov/opa/pr/major-generic-drug-companies-pay-over-quarter-billion-dollars-resolve-price-fixing-charges |access-date=2023-08-24 |website=www.justice.gov |language=en}}

Also in August 2023, Teva agreed to a legal settlement with US hospitals over its marketing of opioid products that ultimately raised costs for health providers and contributed to the opioid epidemic in the United States.{{Cite news |last=Pierson |first=Brendan |date=August 3, 2023 |title=Teva agrees to pay $126 million to US hospitals over opioids |url=https://www.reuters.com/business/healthcare-pharmaceuticals/teva-agrees-pay-126-mln-us-hospitals-over-opioids-2023-08-03/ |access-date=September 12, 2023 |work=Reuters}} The lawsuit consisted of roughly 500 hospitals and health providers, resulting in a payment from Teva of $126 million over 18 years.

On October 31, 2024, the European Commission fined Teva €462.6 million "over misuse of the patent system and disparagement to delay [a] rival multiple sclerosis medicine", namely Copaxone (glatiramer acetate). Teva is accused of having attempted to obstacle other producers of glatiramer acetate both by abusing the patent system and by setting up a misinformation campaign targeting other glatiramer producers.{{cite web |title=Commission fines Teva €462.6 million over misuse of the patent system and disparagement to delay rival multiple sclerosis medicine |url=https://ec.europa.eu/commission/presscorner/detail/en/ip_24_5581 |website=European Commission |access-date=31 October 2024}}

Pharmaceutical products

{{Incomplete list|date=October 2016}}

A full list of products destined for the US market is available from [http://www.tevagenerics.com tevagenerics.com]. Teva also manufactures generic medications for use outside of the US; Cyproterone acetate(From Dutch subsidiary Teva Pharmachemie) {{cite web |title=Cyproteronacetaat 50 PCH |url=https://www.geneesmiddeleninformatiebank.nl/nl/rvg15742 |website=College ter Beoordeling van Geneesmiddelen}} and Moclobemide{{cite web |title=Moclobemide 150 Teva |url=https://www.geneesmiddeleninformatiebank.nl/nl/rvg27823 |website=College ter Beoordeling van Geneesmiddelen}} being two examples.

{{Div col|colwidth=15em}}

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Recalls

In 2018-2019, Teva Pharmaceuticals USA recalled antihypertensive tablets containing valsartan and losartan due to the detection beyond acceptable limit of N-nitrosodiethylamine (NDEA) and N-Nitroso-N-methyl-4-aminobutyric acid (NMBA), respectively, which are probable human carcinogens.{{cite web |title=Teva Pharmaceuticals USA Issues Voluntary Nationwide Recall of All Amlodipine/Valsartan Combination Tablets and Amlodipine/Valsartan/Hydrochlorothiazide Combination Tablets That Are Within Expiry |website=Food and Drug Administration |url=https://www.fda.gov/Safety/Recalls/ucm626802.htm |date=November 27, 2018 |quote=Teva Pharmaceuticals has initiated a voluntary recall in the United States, to the patient level, of all lots of Amlodipine / Valsartan combination tablets and Amlodipine / Valsartan / Hydrochlorothiazide combination tablets...due to an impurity detected above specification limits in an active pharmaceutical ingredient (API)...as N-nitroso-diethylamine (NDEA), which has been classified as a probable human carcinogen. | archive-url=https://web.archive.org/web/20181204003950/https://www.fda.gov/Safety/Recalls/ucm626802.htm | archive-date=December 4, 2018 | url-status=dead}}{{cite web | url=https://www.fda.gov/safety/recalls-market-withdrawals-safety-alerts/teva-pharmaceuticals-usa-inc-issues-voluntary-nationwide-recall-losartan-potassium-25-mg-and-100-mg | title=Teva Pharmaceuticals USA, Inc. Issues Voluntary Nationwide Recall of Losartan Potassium 25 mg and 100 mg Tablets USP, Sold Exclusively to Golden State Medical Supply | website=Food and Drug Administration | date=April 29, 2019 | archive-url=https://web.archive.org/web/20190505010618/https://www.fda.gov/safety/recalls-market-withdrawals-safety-alerts/teva-pharmaceuticals-usa-inc-issues-voluntary-nationwide-recall-losartan-potassium-25-mg-and-100-mg | archive-date=May 5, 2019 | quote=Teva Pharmaceuticals USA, Inc. has initiated a voluntary recall in the United States, to the patient level...Losartan Potassium USP Tablets...This recall is due to the detection of an impurity – N-Nitroso-N-methyl-4-aminobutyric acid (NMBA)...that is above...interim acceptable exposure limit of 9.82 ppm. Based on the available information, the risk of developing cancer in a few patients following long-term use of the product cannot be ruled out. | url-status=dead}}

See also

References

{{Reflist|refs=

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{{Cite news | agency=Bloomberg News | date=January 2, 2012 |title=Teva Names a New Chief Executive | work=The New York Times | department=Business Day | url=https://www.nytimes.com/2012/01/03/business/teva-names-a-new-chief-executive.html | access-date=January 3, 2012 | archive-date=April 27, 2012 | archive-url=https://web.archive.org/web/20120427040309/http://www.nytimes.com/2012/01/03/business/teva-names-a-new-chief-executive.html }}{{registration required}}

{{Cite news | last=Coren | first=Ora | title=Most respected managers in market: Tshuva, Dankner, Maor and Hurvitz | work=Haaretz | access-date=March 21, 2014 | date=February 21, 2008 | archive-date=October 20, 2012 | url=http://www.haaretz.com/print-edition/business/most-respected-managers-in-market-tshuva-dankner-maor-and-hurvitz-1.239727 | archive-url=https://web.archive.org/web/20121020133703/http://www.haaretz.com/print-edition/business/most-respected-managers-in-market-tshuva-dankner-maor-and-hurvitz-1.239727 }}

{{cite news | title=People | date=February 15, 2014 | page=41 | work=Gen. Eng. Biotechnol. News | type=paper | volume=34 | issue=4 }}

{{cite news | title=Teva Outbids Endo, Acquires NuPathe for $144M+ | department=News: Industry Watch | type=paper | work=Gen. Eng. Biotechnol. News | page=10 | date=February 15, 2014 | volume=34 | issue=4 }}

{{cite web|url=http://www.tevapharm.com/pr/2007/pr_708.asp |title=Teva Announces Launch Of Generic Protonix Tablets |work=tevapharm.com |url-status=dead |archive-url=https://web.archive.org/web/20071229041600/http://www.tevapharm.com/pr/2007/pr_708.asp |archive-date=December 29, 2007 |df=mdy }}

{{cite web|title=Microsoft Word – Gianvi Pharmacist Letter – RevD – Final 7-1-10 – web versi... |author=Maureen M Cavanaugh, Teva Pharmaceuticals |url=http://www.tevausa.com/assets/base/products/Gianvi_Letter_7-1-10.pdf |date=July 1, 2010 |access-date=December 26, 2010 |url-status=dead |archive-url=https://web.archive.org/web/20120314145028/http://www.tevausa.com/assets/base/products/Gianvi_Letter_7-1-10.pdf |archive-date=March 14, 2012 }}

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{{cite news | title=Israel's Teva Pharm names Vigodman as CEO | work=Reuters | url=https://www.reuters.com/article/tevapharm-ceo-idUSL6N0KJ0LT20140109 | date=January 9, 2014 | url-status=live | archive-date=January 9, 2014 | archive-url=https://web.archive.org/web/20140109120239/https://www.reuters.com/article/2014/01/09/tevapharm-ceo-idUSL6N0KJ0LT20140109 }}

{{cite news|title=Teva employees gain $222m on options |first=Koby |last=Yeshayahou |url=http://www.globes.co.il/serveen/globes/docview.asp?did=1000623808&fid=1725 |newspaper=Globes |publisher=Globes Publisher Itonut |location=Rishon Le-Zion, Israel |date=February 16, 2011 |at=globes-online.com |archive-url=https://web.archive.org/web/20110217093948/http://www.globes.co.il/serveen/globes/docview.asp?did=1000623808&fid=1725 |archive-date=February 17, 2011 |url-status=dead }}

{{cite news|title=Teva to Acquire Generics Firm |author=Jonathan D. Rockoff |author2=Eyk Henning |url=https://www.wsj.com/articles/SB10001424052748704207504575129240833529842 |format=~100 words |newspaper=The Wall Street Journal |location=New York City |date=March 19, 2010 |at=WSJ.com |access-date=May 8, 2011 |archive-url=https://web.archive.org/web/20110604213651/http://online.wsj.com/article/SB10001424052748704207504575129240833529842.html |archive-date=June 4, 2011 |url-status=dead |df=mdy }}

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{{cite news |first=Natasha |last=Singer |date=March 18, 2010

|url=https://www.nytimes.com/2010/03/19/business/global/19drugs.html |access-date=March 18, 2010

|title=Teva to Acquire Top German Generics Maker for $5 Billion |newspaper=The New York Times }}

{{cite web|url=http://www.tevapharm.com/pr/2008/pr_813.asp |title=Teva Completes Acquisition of Barr |work=tevapharm.com |url-status=dead |archive-url=https://web.archive.org/web/20090124234703/http://tevapharm.com/pr/2008/pr_813.asp |archive-date=January 24, 2009 |df=mdy }}

{{cite web|url=http://www.marketwatch.com/story/teva-near-478-bln-deal-for-ratiopharm-reports-2010-03-18 |title=Teva to acquire Ratiopharm in deal valued near $5 billion |author=Robert Daniel |author2=Polya Lesova |date=March 18, 2010 |work=MarketWatch |publisher=Dow Jones & Co. |location=New York City |archive-url=https://web.archive.org/web/20100323083154/http://www.marketwatch.com/story/teva-near-478-bln-deal-for-ratiopharm-reports-2010-03-18 |archive-date=March 23, 2010 |access-date=May 8, 2011 |url-status=dead |df=mdy }}

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{{cite web | title = Teva won't make more of powerful sedative | website = NBC News| date = May 28, 2010| url = https://www.nbcnews.com/health/health-news/teva-won-t-make-more-powerful-sedative-flna1c9447160}}{{cbignore|bot=medic}}

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{{Cite web|url=http://www.ravoos.com/|title=Pharmaceutical and Pellets manufacturing company | Ravoos|website=www.ravoos.com}}

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}}

}}