- $50 million Phase One Investment in a High Technology Production Facility
- Supports Teva's Continuous Business Growth in Russia and Neighboring Markets
Sochi, Russia- September 16, 2011- Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) announced today that it has signed an investment agreement for the construction of a manufacturing facility in Russia. A signing ceremony was held today at the Sochi Economic Forum in the presence of Russian Prime Minister Vladimir Putin. The agreement was signed by Sergey Vahrukov, the Governor of the Yaroslavl region, and Shlomo Yanai, President and CEO of Teva.
“This investment will boost Teva's ability to provide accessible quality healthcare to the Russian people and neighboring markets", said Shlomo Yanai at the signing ceremony, "It will further allow Teva to enhance its regional presence and sustain its fast growth in Russia for years ahead ".
Teva’s plant, which will be located within the pharmaceutical cluster in Yaroslavl city, will be built in various phases. The first phase, for the manufacture of oral dosage form products, is scheduled for completion by 2014.
Teva’s investment will create 200 direct jobs for skilled personnel and lead to the creation of approximately 1000 jobs in the related supply chain and services fields.
Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) is a leading global pharmaceutical company, committed to increasing access to high-quality healthcare by developing, producing and marketing affordable generic drugs as well as innovative and specialty pharmaceuticals and active pharmaceutical ingredients. Headquartered in Israel, Teva is the world's largest generic drug maker, with a global product portfolio of more than 1,450 molecules and a direct presence in about 60 countries. Teva's branded businesses focus on neurological, respiratory and women's health therapeutic areas as well as biologics. Teva's leading innovative product, Copaxone®, is the number one prescribed treatment for multiple sclerosis. Teva employs approximately 40,000 people around the world and reached $16.1 billion in net sales in 2010.
Teva in Russia
Teva is one of the leading pharmaceutical companies in Russia with a portfolio of approximately 300 products including numerous household names. Since commencing operations in Russia in 1995 Teva Russia has emerged as one of fastest developing Teva subsidiaries. Teva has absorbed the operations of Pliva and ratiopharm in Russia. Teva’s Russian business has increased more than ten fold in the past five years both through organic growth and acquisitions.