Teva

from Wikipedia, the free encyclopedia
Teva Pharmaceutical Industries Ltd.

logo
legal form Public company (limited liability)
ISIN IL0006290147
founding 1901
Seat Petach Tikwa , IsraelIsraelIsrael 
management DenmarkDenmark Kåre Schultz
(President and CEO )
Number of employees 56,960 (2016)
sales $ 21.9 billion (2016)
Branch pharmacy
Website www.tevapharm.com
As of December 31, 2016

Teva Pharmaceutical Industries Limited ( Hebrew טבע תעשיות פרמצבטיות בע"מ) is an Israeli pharmaceutical company operating worldwide. It is one of the ten leading manufacturers of pharmaceuticals worldwide and is considered the global market leader for generics .

The group is active in over 70 countries and in 2016 generated almost 22 billion US dollars in global sales with almost 57,000 employees. Teva specializes in the development, production and distribution of pharmaceuticals such as specialty therapeutics, generics and over-the-counter drugs (OTC drugs) as well as pharmaceuticals .

Founded in 1901, the company is listed in the TA-100 Index on the Tel Aviv Stock Exchange and is listed on the New York Stock Exchange (NYSE: TEVA ). It belongs according to Forbes Global 2000 most of the 500 exchanges listed companies in the world (as of May 2017: Place 485 with a market capitalization of 32.4 billion US dollars).

The research and development at the location Germany has a key role to play in the group. Teva Germany includes a. Ratiopharm .

history

Teva (Hebrew for 'nature') was founded in Jerusalem in 1901 as a drugstore under the name Salomon, Levin and Elstein Ltd. was founded and was initially a pure sales company for imported drugs. From 1930 onwards, as a result of the immigration of highly qualified scientists to Palestine, the first laboratories were established to manufacture medicines; many of these laboratories were later merged into Teva.

After a strong expansion of the pharmaceutical industry from the end of the Second World War , Teva went on the Tel Aviv stock exchange as one of the first pharmaceutical companies in 1951 . In the course of the following decades there were concentration and consolidation processes; In 1976 Teva Pharmaceutical Industries Ltd. founded.

Teva factory, Kfar Saba , Israel, 2015

The company has been expanding internationally since the 1980s; the first step was to the United States . In 1982 the factory in Kfar Saba (Ikapharm) was approved by the US FDA , which marked the cornerstone for opening up the American market. In the 1990s, through further expansion, such as the establishment of Teva Pharmaceutical USA in 1992 and acquisitions in Europe such as GRY Pharma in 1992 and the associated market entry in Germany, Teva became one of the world's 25 leading pharmaceutical manufacturers.

Teva Canada, Markham , Ontario, 2015

In 2000, the Canadian generics manufacturer Novopharm was acquired (since 2010: Teva Canada). In 2004, Teva acquired Sicor Inc., California, for $ 3.4 billion. In January 2006, Teva took over the US pharmaceutical company Ivax , which was one of the ten largest generics manufacturers worldwide; This made Teva the world leader in the generic market .

In January 2009, the takeover of Barr Pharmaceuticals , the fourth largest generics company in the world, and its global holdings such as the Croatian pharmaceutical manufacturer Pliva and the German company AWD.pharma , started in 2008 .

In March 2010, Teva bought the German generics manufacturer Ratiopharm for over 3.6 billion euros. With this takeover, which was approved subject to conditions by the EU Commission in August 2010 , Teva became the market leader in the European generics market. At almost the same time, the Dresden pharmaceuticals plant (AWD.pharma) based in Radebeul Wasa Park was closed (the process lasted until the end of 2012).

In October 2011, Teva took over the US pharmaceutical company Cephalon . In November 2011, the establishment of the joint venture PGT Healthcare with Procter & Gamble was announced, which is to be active in the OTC area in all markets outside the United States.

In 2015, Teva took over the generics business of Irish pharmaceutical company Allergan for $ 40.5 billion - $ 33.75 billion in cash, the remainder in shares, giving Allergan around 10 percent of the shares in Teva.

In 2017, it was announced that Teva was in trouble. Shares fell at the beginning of the year. In August, a total of 7,000 employees, 350 of them in Israel, were downsizing. In October the group lost a patent dispute against Mylan before the British Supreme Court. In December 2017, the group announced that it would cut a total of 14,000 jobs from 53,000 worldwide over the next two years. The downsizing will also affect 3,300 jobs in Israel. For 2017, Teva posted a net loss of $ 16.4 billion on sales of $ 22.4 billion. If one excludes the high depreciation and other special burdens, especially those of the business in the USA, a profit of around four billion dollars would be calculated. The net shortfall is by far the highest loss ever reported by a pharmaceutical company.

Criminal proceedings have been initiated against Teva and other pharmaceutical companies in the US state of Oklahoma in connection with the opioid crisis in the United States . The attorney general blamed the "aggressive marketing of painkillers and the trivialization of risks" for causing the crisis. Shortly before the trial began, Teva paid a settlement amount of $ 85 million in 2019 and the criminal case was suspended.

In May 2020, the company surprisingly withdrew from arbitration talks with the US Department of Justice, which is investigating Teva and others for price fixing. Teva is accused of driving up the prices of pravastatin and other widely available drugs. The New York Times interpreted the authority's disregard as a calculated move. Apparently the Teva management assumes that the administration of Donald Trump would not dare to take action against one of the most important drug manufacturers during the COVID-19 pandemic . Shortly before withdrawing from the talks after the press research, a board member of Teva had discreetly contacted the government through a friend from college with Trump's son-in-law and offered to bring the supplies of hydroxychloroquine held by the group in India to the USA with the help of the administration to help with distribution.

ladder

Period CEO
1976-2002 Eli Hurvitz
2002-2007 Israel Makov
2007 - May 2012 Shlomo Yanai
May 2012 - October 2013 Jeremy Levin
February 2014 - February 2017 Erez Vigodman
February 2017 - October 2017 Yizhak Peterburg ( interim )
since November 1, 2017 Kåre Schultz

Products and Markets

Teva operates in two segments:

Generic drugs (generic medicines)
In addition to generics , this segment includes the OTC business , the drug business and the manufacturing business in connection with the joint venture with Procter & Gamble. In 2016 it contributed 55% to consolidated sales; 38% of the segment's sales were in the United States, 30% in Europe and 32% in the rest of the world.
Special drugs (specialty medicines)
This segment essentially comprises drugs that affect the central nervous system such as Copaxone ( multiple sclerosis ) and Azilect ( Parkinson's disease ) as well as agents for the treatment of respiratory diseases. It also includes products in other therapeutic areas such as oncology and women's health. The share of sales in 2016 was 40%.

In addition to these two segments, Teva u. a. acts as a distributor for third party vendors whose products they sell in the United States, Israel and Hungary .

The company's products are sold in over 120 countries. They are sold under the brands Teva, AWD , Ivax, Gry, Ratiopharm , CT and AbZ.

Teva has been the global leader in generic drug production since 2006 .

Shareholder structure

As of December 31, 2016, around 81.7% of the ordinary shares were held in the form of American Depositary Shares (ADS, share certificates) by 3,183 shareholders, mainly US citizens or companies.

As of February 2017, the following major shareholders were known: Irish pharmaceutical company Allergan owned ADSs equivalent to approximately 9.9% of Teva's outstanding shares, which are subject to an August 2016 shareholder agreement with certain restrictions on Allergan including a one-year ban on transferring Teva shares. The US investment company Capital Research and Management Company held 5.9% and FMR LLC (Fidelity) held approximately 6.5% of the outstanding shares in the form of ADSs. To the best of Teva's published knowledge, no other shareholder owned 5% or more of the common stock.

As of February 2017, Teva's directors and officers totaled 0.6% of the common stock.

Teva Germany

Production in Ulm, 2012

Teva is headquartered in Germany in Ulm , where the entire generics business has been bundled. Other locations are Blaubeuren and Berlin . Around 1600 of the total of around 3100 employees in Germany work in production and quality assurance. The product range particularly includes drugs in the areas of neurology, pain and oncology . Teva is the market leader in Germany in the multiple sclerosis market and a leader in the European generics market.

Research and development based in Germany is of great global importance within the group. Ulm is the seat of global research and development for OTC products as well as for all development activities for new generic versions for the whole of Europe, South Korea and Japan. To this end, the Global Technology Center was built in Ulm as a global competence center and officially opened in March 2016.

Teva Germany owns a total of nine companies (as of June 2017), in addition to Teva GmbH, AbZ-Pharma GmbH with the brand CT Arzneimittel and Ratiopharm GmbH.

Structure of Teva Germany as of December 31, 2015:

  • Teva Health GmbH - Administration (German parent company)
    • Merckle GmbH - production
      • Ratiopharm GmbH - sales of generics and OTC, research and development
      • Teva Biotech GmbH - production
      • Transpharm Logistik GmbH - logistics
    • Teva GmbH - sales of specialty drugs
      • AbZ-Pharma GmbH - Sales of generics and OTC
      • Teva Pharma GmbH - Research and Development (merged with Teva GmbH in August 2016)
  • Pliva Real Estate GmbH - real estate management
    • Ratiopharm Immobilienverwaltung GmbH & Co. KG - Real estate management (general partner: Teva BV, Netherlands)

After the general manager Sven Dethlefs switched to the parent company in September 2013, Markus Leyck Dieken took over the management of the German business. Due to Leyck Dieken's move to a global corporate function, Christoph Stoller, previously COO for Teva's European generics business, took over the interim management of Teva Germany in June 2017 .

criticism

Teva pulled u. a. criticized for several takeovers that investors described as too expensive. This led to the immediate resignation of CEO Erez Vigodman in February 2017 , who was also criticized personally.

In May 2019, Süddeutsche Zeitung and Handelsblatt reported that numerous pharmaceutical companies in the USA were accused of illegal price fixing. Teva, the Israeli parent company of the German Ratiopharm, is also among the accused . The companies are said to have increased their prices by more than 1000 percent and suppressed competition in copycat drugs. "Teva and his co-conspirators made the most outrageous and damaging price fixing in US history," the newspapers quote from the complaint.

A boycott of Teva is also called for as part of the transnational political campaign Boycott, Divestment and Sanctions . In 2014 it was announced that a British pharmacist group would be boycotting Teva due to the Gaza conflict .

Web links

Commons : Teva Pharmaceutical Industries  - Collection of Images

Individual evidence

  1. ↑ a b c d e f g h Annual Report 2016 according to US reporting standard Form 20-F . Teva Pharmaceutical Industries Limited, accessed June 28, 2017 (PDF).
  2. ↑ # 485 Teva Pharmaceutical . In: Forbes : Global 2000 , as of May 2017, accessed on June 28, 2017.
  3. ↑ M. Pugatsch, M. Teubal, O. Zlotnick: The case of Teva Pharmaceutical Industries . In: Hiroyuki Odagiri (ed.): Intellectual Property Rights, Development, and Catch Up. An International Comparative Study . Oxford University Press, Oxford 2010, ISBN 978-0-19-957475-9 , pp. 234-235 (English).
  4. ↑ Story of Teva and Ratiopharm . Teva GmbH website, accessed on June 29, 2017.
  5. ↑ Israeli pharmaceutical company buys Ratiopharm . In: Spiegel Online , March 18, 2010, accessed June 29, 2017.
  6. ↑ Mega Pharma Deal: EU allows Ratiopharm takeover. In: Spiegel Online , August 4, 2010, accessed June 29, 2017.
  7. ↑ Teva has Ratiopharm . n-tv .de, August 10, 2010, accessed on June 29, 2017.
  8. ↑ The Procter & Gamble Company and Teva Pharmaceutical Industries Partner for Consumer Health . pharma-zeitung.de, November 3, 2011, accessed on June 28, 2017.
  9. ↑ Teva buys generics division from botox manufacturer Allergan . In: Spiegel Online , July 27, 2015, accessed June 29, 2017.
  10. ↑ Teva takes over Actavis legacy . apotheke-adhoc.de, July 27, 2015, accessed June 29, 2017.
  11. ^ Teva Suffers Blow After British High Court Sides With Mylan in Patent Case , Ha-Aretz on October 27, 2017
  12. ^ What Israel Can Learn From Teva's Collapse , Ha-Aretz on November 6, 2017
  13. ^ Teva Announces Restructuring Plan and Additional Measures to Improve Its Business and Financial Performance . Teva Pharmaceutical Industries Ltd., December 14, 2017, accessed December 16, 2017.
  14. ↑ Largest Israeli company cuts 14,000 jobs , December 14, 2017, accessed December 26, 2017.
  15. ↑ Ratiopharm mother: Teva writes the greatest loss in pharmaceutical history . ( handelsblatt.com [accessed on May 1, 2018]).
  16. ↑ Opioid crisis: Ratiopharm mother Teva pays 85 million US dollars. Deutsche Apothekerzeitung online from May 28, 2019, accessed on August 28, 2019.
  17. ↑ Katie Benner, David Enrich and Katie Thomas: "A Drug Company Wagers the US Won't Dare Charge It With Crimes" nytimes.com, May 15, 2020
  18. ↑ Teva Appoints Dr. Yitzhak Peterburg as Interim Chief Executive Officer, Succeeding Erez Vigodman . ( Memento of the original from March 7, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Business Wire , Yahoo Finance, February 6, 2017, accessed November 1, 2017. @1@ 2Template: Webachiv / IABot / finance.yahoo.com
  19. ↑ Shoshanna Solomon: Teva's new CEO Schultz to take post Wednesday . In: The Times of Israel , October 31, 2017, accessed November 1, 2017.
  20. ↑ APOTHEKE ADHOC: AbZ sells CT range ( Memento of the original from August 9, 2014 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.apotheke-adhoc.de
  21. ↑ Merck to sell generics business . In: Der Tagesspiegel , May 14, 2007, accessed on June 28, 2017.
  22. ↑ From drug supplier in Israel to global market leader for generics . In: Berliner Morgenpost , March 19, 2010, accessed on June 28, 2017.
  23. ^ Teva in Germany: Locations . teva.de, accessed on June 29, 2017.
  24. ↑ Company . teva.de, accessed on June 29, 2017 (production location Germany) .
  25. ↑ Annual financial statements for the 2015 financial year of Teva GmbH. In: Bundesanzeiger , February 16, 2017, accessed in the company register on June 29, 2017.
  26. ↑ Annual financial statements for the 2015 financial year of the companies concerned. In: Bundesanzeiger , accessed in the company register on June 29, 2017.
  27. ^ Register announcement of the deletion of August 8, 2016. Ulm District Court, file number: HRB 726775. Retrieved from the company register on June 29, 2017.
  28. ↑ Ratiopharm boss goes to Teva . ( Memento of the original from August 10, 2014 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. apotheke-adhoc.de. @1@ 2Template: Webachiv / IABot / www.apotheke-adhoc.de
  29. ↑ Christoph Stoller takes over the interim management at Teva Germany . In: Healthcare Marketing , June 26, 2017, accessed June 29, 2017.
  30. ↑ Chief of the generic giant Teva takes off his hat . In: Handelsblatt , February 7, 2017, accessed on June 29, 2017.
  31. ↑ US lawsuit against Teva. In: SZ.de from May 12, 2019 (accessed on May 13, 2019)
  32. ↑ Teva and other US pharmaceutical companies accused of fixing prices. In: Handelsblatt.com. May 11, 2019 (accessed May 13, 2019)
  33. ^ Franziska Gerhardt: British group of pharmacists boycotted Teva . apotheke-adhoc.de, August 1, 2014, accessed December 4, 2018.