Since Teva’s establishment in Jerusalem in 1901, our aim has been to help patients live longer, healthier lives. As we work to find solutions to tomorrow’s biggest healthcare challenges, we look back with pride at our humble beginnings and past accomplishments.
When, over a century ago, Chaim Salomon, Moshe Levin, and Yitschak Elstein came together in Jerusalem to form a small pharmaceutical business, they could not have imagined that their company would go on to be a world leader in the industry. Originally called Assia - the Aramaic word for doctor - Teva grew internationally. Today its shares are listed on the Tel Aviv Stock Exchange, NASDAQ and the New York Stock Exchange.
In 1976, Assia merged with fellow Israeli pharma companies Zori and Teva to form Teva Pharmaceutical Industries Ltd., Israel's largest healthcare company, under the leadership of CEO Eli Hurvitz.
A year later the company started to expand internationally. Teva entered the European market when it acquired Dutch firm Orphahell, and in 1982, Teva’s manufacturing facility in Kfar Saba, Israel, received official FDA approval. In 1987 Teva secured its foothold in the US market through a joint venture with W.R. Grace, which in turn acquired Lemmon in Sellersville, Pennsylvania.
Teva's first major innovative medicine was developed for the treatment of multiple sclerosis, and was launched in the US in 1996, and in Europe in 2001. During this period of significant growth, the company assumed leadership of the US generics sector and made major acquisitions in North America, Europe and other key markets.
From our humble beginnings, to shaping the worldwide generic medicine industry, we are now embarking on a new biopharmaceutical journey. Much has changed in healthcare since Teva was established over a century ago. But what has remained consistent is our deeply-rooted desire to offer accessible and innovative ways to help people live better, healthier lives.