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Teva Pharmaceutical Industries

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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.
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
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
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
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
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
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 8, 2011
An Israeli media report Wednesday said that Teva Pharmaceutical Industries Ltd. could fire 1,000 workers in the United States and Europe in the wake of its acquisition of Cephalon Inc., which is based in Frazer, Chester County. Teva's $8.6-billion deal for Cephalon closed in October. Responding to the report, Teva spokeswoman Denise Bradley said the integration of the two companies has only recently begun and will include employee cutbacks. "At this point, we cannot comment on the number of employees or the fields in which changes will take place," she said in an e-mail.
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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.
BUSINESS
January 10, 2014 | By David Sell, Inquirer Staff Writer
A local bidding war has erupted, with Teva Pharmaceutical Industries trying to trump a December offer by Endo Health Solutions to buy NuPathe Inc. Endo offered $105 million up front in December. Teva offered $149 million up front Monday. Teva, like Endo, is slightly desperate to find ways to generate cash right away to satisfy stockholders and Wall Street. But neither is as desperate as NuPathe, which is close to turning out the lights. All three companies have big local operations.
BUSINESS
January 5, 2013 | By David Sell, Inquirer Staff Writer
Bayer HealthCare said Thursday that it had received regulatory clearance to complete its $145 million acquisition of the animal-drug division of Teva Pharmaceutical Industries Ltd. Teva is based in Israel and has several facilities in the Philadelphia region, but the animal-products factory is in St. Joseph, Mo. The factory and about 300 employees will be transfered to Bayer. Bayer AG is based in Leverkusen, Germany, and its animal-health division has headquarters in Shawnee Mission, Kan., a suburb of Kansas City.
BUSINESS
January 2, 2013 | By Mike Armstrong, Inquirer Columnist
On Sunday, Philly Deals columnist Joseph N. DiStefano reviewed the top 10 business stories of 2012. Today, I take a stab at five local story lines to watch in 2013. First, can an airline really run a refinery better than an oil company? Delta Air Lines has high hopes for its Trainer complex, which restarted just about the time Hurricane Sandy hit in late October. Sure, it's not as if pilots and flight attendants are in charge of fuel production in Delaware County.
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