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Teva Pharmaceutical Industries

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NEWS
June 3, 2010 | ASSOCIATED PRESS
NEW YORK - Teva Pharmaceutical Industries Ltd. said Wednesday that it received Food and Drug Administration approval for a generic version of Galderma's acne treatment Differin. Teva, based in Israel and with U.S. headquarters in North Wales, Montgomery County, said the product has annual sales of about $91 million in the United States. Shares of Teva were up 49 cents to $54.77.
NEWS
September 11, 2016 | By Linda Loyd, STAFF WRITER
Teva Pharmaceutical Industries said Friday it expects to meet with the Food and Drug Administration soon to understand how it can win regulatory approval for its generic version of Mylan's EpiPen allergy-reaction injector. Teva said it hopes to introduce its generic epinephrine product in late 2017 or early 2018. Teva's generic medicine, if approved, would likely be priced cheaper than Mylan's branded drug, whose price has surged from less than $100 in 2007 to more than $600.
NEWS
August 8, 2011 | By Phil Milford, BLOOMBERG
GlaxoSmithKline P.L.C. and Pfizer Inc. have sued generic drug giant Teva Pharmaceutical Industries Ltd. for allegedly infringing a U.S. patent for the HIV drug Epzicom, Bloomberg News reported. All three companies have large operations in the Philadelphia region. Glaxo and Pfizer have a joint venture, ViiV Healthcare, which makes Epzicom. Teva applied to the Food and Drug Administration to sell a generic version of Epzicom, ViiV lawyers said in a complaint filed in federal court in Wilmington, Del., Bloomberg said.
NEWS
May 27, 2010 | ASSOCIATED PRESS
Generic drugmaker Teva Pharmaceutical Industries Ltd. said Thursday that it will spend $56 million to expand a Canadian production plant. The Israeli company, which has its U.S. headquarters in North Wales, Montgomery County, said the province of Ontario will provide a $6.5 million grant to Teva Canada to keep 182 high-skilled workers and hire 20 new employees. The plant is in Stouffville, Ontario. Teva Pharmaceutical employs 35,000 people worldwide. Company shares rose 61 cents to $54.91 in Thursday morning trading.
NEWS
August 10, 2010 | ASSOCIATED PRESS
NEW YORK - Teva Pharmaceutical has solidified operations further in Europe, announcing today that it completed a $4.95 billion buyout of German drugmaker Ratiopharm. Teva is the world's largest maker of generic drugs, and said it is now the largest generics maker in Europe. Teva, which has U.S. headquarters in North Wales, Montgomery County, said it expects to be able to save at least $400 million a year from the deal. Those savings will take effect within three years, the company said.
NEWS
November 23, 2011
JERUSALEM - Eli Hurvitz, who transformed Teva Pharmaceutical Industries from a small Israeli medical company into the world's largest generic drug maker, has died. He was 79. The company said he died on Monday, but it gave no details. Hurvitz was born in Jerusalem, where he studied economics at The Hebrew University, and got his start in pharmaceuticals washing dishes in the laboratory of one of the three drug manufacturers that eventually merged to form Teva, the largest company on the Tel Aviv Stock Exchange.
NEWS
October 14, 2011
Teva Pharmaceutical Industries Ltd., which is based in Israel but has operations in North Wales, completed its $6.8 billion acquisition of Frazer-based Cephalon Inc. The combined company, which will make and distribute branded and generic drugs, will have a presence in more than 60 countries. Cephalon Inc. became a wholly owned subsidiary of Teva and ceased to be traded on NASDAQ. Under the deal, each share of Cephalon common stock has been converted into the right to receive $81.50 in cash.
NEWS
October 13, 2011
Teva Pharmaceutical Industries Ltd. said Thursday the European Commission had approved its planned $6.8 billion purchase of Cephalon Inc., after agreeing to sell the generic rights to Cephalon's narcolepsy drug Provigil and agree not to sue the acquiring company. Teva is based in Israel, but it has operations in North Wales and recently broke ground on new facility in Northeast Philadelphia. Cephalon's headquarters is in Frazer. The U.S. Federal Trade Commission approved the deal on Oct. 7, with the condition that Teva divest other products.
NEWS
May 27, 2010 | ASSOCIATED PRESS
SUMMIT, N.J. - Celgene Corp. said Thursday that a competitor withdrew its application for a generic version of Celgene's cancer drug Thalomid. Celgene said Barr Laboratories withdrew the application, which had been filed in 2006 with the Food and Drug Administration. As a result, Celgene said it had dropped a 2007 patent infringement lawsuit against Barr. Celgene markets Thalomid, or thalidomide, as a treatment for multiple myeloma, which is a cancer that affects bone marrow.
NEWS
November 3, 2011
Teva Pharmaceutical Industries Ltd., which is headquartered in Israel but has operations in North Wales, said it has joined consumer products giant Proctor & Gamble in a joint venture called PGT Healthcare. Based in Geneva, the new firm will operate in "essentially all markets outside of North America," and develop new over-the-counter brands for North America. Meanwhile, Teva said Wednesday that it might introduce an unnamed "important undisclosed generic product," later this year.
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ARTICLES BY DATE
NEWS
September 11, 2016 | By Linda Loyd, STAFF WRITER
Teva Pharmaceutical Industries said Friday it expects to meet with the Food and Drug Administration soon to understand how it can win regulatory approval for its generic version of Mylan's EpiPen allergy-reaction injector. Teva said it hopes to introduce its generic epinephrine product in late 2017 or early 2018. Teva's generic medicine, if approved, would likely be priced cheaper than Mylan's branded drug, whose price has surged from less than $100 in 2007 to more than $600.
BUSINESS
July 15, 2016 | By Linda Loyd, Staff Writer
Shares of Teva Pharmaceutical Industries rose nearly 4 percent Wednesday after the drugmaker said its $40 billion deal to buy Allergan P.L.C.'s generics business is expected to close shortly. On a call with analysts, Teva chief executive officer Erez Vigodman said the acquisition - for $33.5 billion in cash and about 100 million of Teva's shares - should close "at any time now. " He said he knew of nothing that would hold up the purchase, which awaits final clearance from the U.S. Federal Trade Commission.
BUSINESS
April 8, 2016 | By Linda Loyd, Staff Writer
Pharmaceutical giant Pfizer and Ireland-based Allergan scrapped their merger plans Wednesday, two days after the Treasury Department announced tough new rules to thwart U.S. companies' moving their headquarters overseas to lower their taxes. The $160 billion deal would have been the biggest acquisition in drug industry history and would have created the largest pharmaceutical company in the world. The new Treasury Department rules make it harder for companies, through a merger, to move their tax addresses out of the United States and then shift profits to low-tax countries, a process called inversion.
BUSINESS
August 12, 2015 | By David Sell, Inquirer Staff Writer
Drug pricing is the biggest commercial issue in the U.S. pharmaceutical industry, and Endo International CEO Rajiv De Silva said Monday that his company sees a mixed bag of opportunities to raise prices. In a conference call with stock market analysts, De Silva said that Endo has about 700 generic products, and that the company had been able to raise prices on some more complicated specialty generic drugs, such as those requiring injections, and on older products for which competitors have dropped out. Drug-company critics - including patients, doctor groups, and congressional leaders - generally question price increases, but stockholders benefit from revenue increases, and Wall Street analysis is based on that.
BUSINESS
June 25, 2015 | By Linda Loyd, Inquirer Staff Writer
The Philadelphia region and New Jersey are home to many pharmaceutical and life-sciences companies that send and receive finished medicines and raw drug ingredients around the globe. American Airlines officials snipped a ribbon and provided tours Tuesday at Philadelphia International Airport of a new $5 million cargo refrigeration facility catering to the cold storage needs of these companies. The 25,000-square-foot renovated warehouse opened six weeks ago, and can handle nearly four times the amount of perishable, time-sensitive, and valuable airfreight - including vaccines, blood products, gene therapies, tissues, insulin and immunotherapies - that travel in the belly of planes on American and merger partner US Airways passenger flights.
BUSINESS
February 7, 2015 | By David Sell, Inquirer Staff Writer
Pfizer Inc. led the deal-making in the interconnected pharmaceuticals industry Thursday, saying it would buy Hospira Inc. for about $17 billion, including debt. Hospira is a leader in the generic injectable-medicine market and is among those at the forefront of so-called biosimilar drugs. New York-based Pfizer, which has a Collegeville facility, has been on the prowl - an analyst's description, which CEO Ian Read took issue with in a conference call - to buy a company to bolster current and future revenue.
BUSINESS
January 26, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
One in a continuing series spotlighting real estate markets in the region's communities. Horsham is "a little different market" when compared with surrounding communities, veteran real estate agent Gary Segal says. For one thing, he notes, even in the off-season that runs from just before Thanksgiving to a week after Super Bowl Sunday, the market here is "fairly hot. " Says Segal: "I sold a couple of real good ones" - including newly constructed houses, which command the top prices in any market - "that brought the second-highest price in Horsham this year to a [relocation]
BUSINESS
October 2, 2014 | By David Sell, Inquirer Staff Writer
More cringing - and possibly more explanation - is in store for parents watching TV with children when the latest Viagra commercials appear on screens. Euphemistic and delicate phrasing about erectile dysfunction by an unseen narrator? Done and gone. "So, guys, it's just you and your honey. The setting is perfect," says the blue-eyed blond woman with the British accent as she lies on a canopy bed with a tropical scene in the background. "But then, erectile dysfunction happens again.
BUSINESS
August 27, 2014 | By Linda Loyd, Inquirer Staff Writer
American Airlines and its merger partner, US Airways, are renovating a warehouse at Philadelphia International Airport to include refrigeration for pharmaceuticals and other health-care products. When it opens this fall, the temperature-controlled plant will be able to handle four to five times the current amount of perishable, time-sensitive, and valuable airfreight, including vaccines and blood products, that arrive and leave in the belly of planes on US Airways and American passenger flights.
BUSINESS
June 23, 2014 | By David Sell, Inquirer Staff Writer
The leadership ground is still moving under Teva Pharmaceutical Industries, which is based in Israel but has several facilities in the Philadelphia area. Teva board chairman Phillip Frost sent a letter to shareholders Wednesday that said he would resign from the board later this year. Frost led the hiring of now-former chief executive officer Jeremy Levin, but the board didn't agree on implementing Levin's plans, so Levin departed. Erez Vigodman, who served on the board, was named CEO on Jan. 9 and began in that role Feb. 11. Financial analysts were anxious for Vigodman to more quickly implement previously announced cost-cutting measures, including layoffs.
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