Teva Pharmaceutical (Israel)

TEVA PHARMACEUTICAL INDUSTRIES, Ltd. (Teva) is a manufacturer of generic and brand-name pharmaceuticals, which it distributes to the global market. Two major fields of research and development at Teva are the central nervous system, especially multiple sclerosis, and autoimmune diseases. The newest field into which Teva is branching is oncology.

In 1901, the first store in Teva's history opened in Jerusalem. This store held a wholesale drug business, distributing medicines via camels and donkeys. The business was called Salomon, Levin, and Elstein, Ltd. Teva Pharmaceutical Industries, Ltd. was created in 1976, when the three companies of Teva, Assia, and Zori merged. Salomon, Levin, and Elstein remained as Teva's pharmaceutical marketing branch.

At present, Teva manufactures several drugs for cancer treatment and has others in clinical trials. A clinical trial is an important method of evaluating the safety, efficacy, and utility of a novel therapeutic technology or drug for a specific disease indication. One of the drugs produced at Teva is involved in causing cell division cycle arrest—and hence cell death—of the cancerous cells. Another drug specifically targets glioblastoma multiforme, a type of brain tumor.

The company also manufactures active pharmaceutical ingredients. Active pharmaceutical ingredients account for 90 percent of Teva's sales. As an international pharmaceutical company, Teva strives to become the world's leading generic drug manufacturer. In addition to generic pharmaceuticals, Teva produces proprietary medications developed from scientific laboratories in Israeli institutions. In this manner, the company participates in international healthcare while supporting its home nation.

The company has outlined several core values in its business operations. These values are creativity, leadership, openness to change, operational excellence, and strategic discipline. The first direction under leadership is to “think globally and act locally.” The chief strategic goals at Teva are globalization, industry and market leadership, and sustained profitable growth. Throughout these goals, Teva's strength in the generics market is stressed repeatedly. A recent example of this strength is Teva's production of generic Wellbutrin, an antidepressant from the U.S. pharmaceutical company GlaxoSmithKline. Teva began generic production of this drug in December 2006.

Teva is managed by corporate officers, led by a president and chief executive officer; a board of directors, led by a chairman; and committees of the board. The committees are each led by an independent director and serve to assist the board of directors in company management.

The major pharmaceutical product in Teva's history is Copaxone, which is used for the management of multiple sclerosis. It was Israel's first native pharmaceutical, and the first Israeli drug to earn approval by the U.S. Food and Drug Administration. Multiple sclerosis is an autoimmune neurological disorder characterized by the body's own destruction of its central nervous system's myelin, the fatty substance insulating neurons.

Teva is based in Israel, yet 90 percent of its sales, as of 2007, are made in North America and Europe. The company has facilities to produce pharmaceuticals in Israel, Latin and North America, and Europe.