Improving health since 1901
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.
Established in Jerusalem in 1901, the company known today as Teva starts out as a small wholesale drug business that distributes imported medications.
In the beginning...
A small wholesale drug business is established by Chaim Salomon, Moshe Levin and Yitschak Elstein.
The business is named S.L.E after its founders.
Conditions are ripe for establishing a local pharmaceutical industry. New manufacturing plants are founded and quickly gain momentum.
During World War II, with the absence of imports, these plants are the sole source of pharmaceutical supplies for the local market and neighboring countries.
The local drug market expands rapidly. Established pharmaceutical manufacturing companies grow, including Teva.
Teva begins trading on the Tel Aviv Stock Exchange (TASE) as the Teva Middle East Pharmaceutical Chemical Works Company Ltd.
A period of consolidation in the Israeli pharmaceutical industry begins, and culminates in the formation of Teva Pharmaceutical Industries Ltd.
Teva, Assia, and Zori unite to create Israel’s largest drug maker - Teva Pharmaceutical Industries Ltd.
Eli Hurvitz becomes first CEO of the merged company. Mr. Hurvitz, the beloved and highly respected leader, served as President and CEO in the years 1976-2002, and as Chairman of the Board from 2002-2010.
Photo credit: Moshe Shai
Teva takes its first step abroad into Europe with the acquisition of Orphahell in the Netherlands.
Teva expands internationally, capitalizing on the passing of the Hatch-Waxman Act to enter and transform the US market in the generics sector, marking the start of a period of robust growth.
The Kfar Saba manufacturing facility is granted approval by the FDA in 1982.
Teva shares are registered for trading on NASDAQ.
US Hatch-Waxman Act is passed, enabling Teva’s entry into generic medicines in the 1990s.
Teva expands its US market share through a joint venture with W.R. Grace, and the acquisition of Lemmon facilitates Teva’s entry into the US market.
Teva acquires Abic, the second largest pharmaceutical company in Israel, and completes the acquisition of Israeli API producer Plantex Ltd.
Establishing a strong multinational presence, Teva invests in a series of acquisitions that extend its global reach in the US and Europe. The company assumes leadership of the US generics sector, and launches its first specialty medicine.
Acquisition of GRYPharm - Germany.
Teva opens its flagship Teva-Tech API production facility at Ramat Hovav in Israel’s Negev desert.
Acquisition of APS/Berk in the UK marks Teva’s first entry into a major Western European market.
Teva’s innovative new treatment for multiple sclerosis (MS), and the first specialty medicine for the company, is approved by the FDA.
A leader in global markets
Teva continues to invest in major acquisitions of Canadian, US and EU pharmaceutical companies with subsidiaries in Latin America and elsewhere. Teva becomes the largest generic pharmaceutical company in North America, and strengthens its worldwide presence while broadening its pipeline and product offerings.
Acquisition of Novopharm Ltd, the second largest producer of generics in Canada, and its Hungarian subsidiary Human. Teva becomes the largest generic pharmaceutical company in North America.
Teva’s innovative treatment for multiple sclerosis receives European Union approval.
Acquisition of Regent Drugs Limited in India (renamed Teva API India Ltd.), which joins Teva’s API division.
Acquisition of Sicor Inc. and its subsidiaries, bringing together Teva's successful oral dose generic drugs franchise with Sicor's leading generic injectable business, API and biogenerics capabilities.
Teva's innovative drug for the treatment of Parkinson’s disease is approved for marketing in Israel and the EU. The treatment is later approved by the FDA in 2006.
Acquisition of IVAX Corporation in the US strengthens Teva’s worldwide presence through subsidiaries in Europe, Latin America and the Far East. The acquisition brings Teva a rich pipeline of generic and proprietary products in the complementary areas of respiratory, CNS, and oncology.
Acquisition of Barr Pharmaceuticals in the US, including subsidiary PLIVA in Europe, enhances Teva’s leadership position in the US and key global markets, and strengthens Teva's portfolio and pipeline.
Joint venture with Japan-based Kowa Company, Ltd. positions Teva to supply generic pharmaceutical products to the Japanese market.
Acquisition of Germany’s ratiopharm significantly increases Teva's market share in Europe, harnessing ratiopharm's excellent foundation for biosimilars, branded generics and tenders.
2010 – Today
Teva offers the world's largest medicine cabinet, providing medicines to about 200 million people around the world every day. With one of the most competitive operational networks in the industry, Teva now produces 1,800 unique molecules and a portfolio of 3,500 products, spanning generics, specialty and over the counter medicines.
Acquisition of Cephalon and its global subsidiaries strengthens Teva’s therapeutic diversification while providing a leadership position in branded and specialty pharmaceuticals
Teva begins trading on the NYSE (New York Stock Exchange).
Joint venture with Handok provides Teva with entrance into the South Korean pharmaceutical market.
Acquisition of Labrys Biologics Inc. in the US opens the door for Teva to a strong and novel migraine prevention and treatment franchise within its CNS portfolio.
Teva acquires Auspex, in order to strengthen Teva's core central nervous system franchise for treatment of movement disorders.
Teva establishes a business venture with Takeda, Japan's largest pharmaceutical company, leveraging Teva’s deep marketing expertise, commercial and medical excellence, with Takeda’s leading brand reputation and strong distribution presence in Japan.
Teva acquires Actavis Generics, significantly expanding Teva’s generic product portfolio, R&D capabilities, product pipeline and global operational network.
The same year, Teva acquires Anda Inc, a leading distributor of generic pharmaceuticals in the US. This strategic move enables Teva to improve capabilities and flexibility in order to provide access to more patients throughout the US.
Teva celebrates 120 years since its founding, with a mission focused on being a global leader in generics and biopharmaceuticals, improving the lives of patients around the world.
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 healthier lives.