Teva Pharmaceutical Industries
An Israeli multinational pharmaceutical company focused on generic medicines, specialty therapies, biosimilars, and active pharmaceutical ingredients.
Last updated November 1, 2026
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Overview
Teva Pharmaceutical Industries Ltd., commonly known as Teva Pharmaceuticals, is an Israeli multinational pharmaceutical company and one of the largest producers of generic medicines worldwide. Its business combines high-volume generic drugs with branded specialty medicines, biosimilars, active pharmaceutical ingredients, and selected contract-manufacturing and licensing activities. The company sells products through national health systems, hospitals, pharmacies, wholesalers, and other healthcare channels across North America, Europe, Israel, Latin America, Asia, and additional international markets. Teva traces its commercial heritage to Salomon, Levin and Elstein, a Jerusalem-based wholesale drug business established in 1901. The Teva company itself was formed in Jerusalem in 1935 by pharmacist and botanist Günther Friedländer and his aunt Else Kober, initially operating as Teva Middle East Pharmaceutical & Chemical Works. Limited access to capital shaped the early business, which obtained investment from banker Alfred Feuchtwanger. During the Second World War, the company supplied medicines to Allied forces, particularly British forces stationed in the Middle East, and it developed export relationships beyond Palestine. The company became publicly traded in 1951 and expanded through a combination of organic development, local partnerships, and acquisitions. Assia and Zori, two Israeli pharmaceutical businesses, acquired control of Teva in the 1960s, and the three companies merged in 1976 to create the modern Teva Pharmaceutical Industries. Subsequent purchases in Israel and overseas established the company as an international generic-drug platform. The acquisition of Novopharm in Canada, Sicor in the United States, Ivax, Barr Pharmaceuticals, Ratiopharm, Cephalon, and other companies progressively broadened Teva's manufacturing footprint, product portfolio, and access to regulated markets. Generic medicines remain central to Teva's identity. The company develops and manufactures off-patent medicines in numerous dosage forms and therapeutic areas, while its Teva Active Pharmaceutical Ingredients business supplies ingredients both internally and to third parties. Its specialty portfolio has included Copaxone for multiple sclerosis, Austedo for chorea associated with Huntington's disease and tardive dyskinesia, Ajovy for migraine prevention, and oncology and hospital products such as Bendeka and Treanda. Biosimilars and complex generics have also been important areas of development, particularly following the acquisition of Sicor. Teva's expansion into the generic business of Allergan in 2016 made it substantially larger, but the transaction also increased debt and was followed by intense restructuring, asset sales, workforce reductions, and a sharp dividend cut. The company subsequently sold selected products and businesses to satisfy competition regulators and improve its balance sheet. Teva has also faced substantial legal and reputational challenges, including allegations and investigations involving generic-drug price fixing, opioid-related conduct, and the discontinuation of vincristine in the United States. These controversies have made regulatory compliance, portfolio discipline, and financial deleveraging recurring themes in its corporate strategy. Teva is listed on the Tel Aviv Stock Exchange and the New York Stock Exchange under the symbol TEVA. Its manufacturing and research operations extend across Israel, North America, Europe, Australia, and South America. The company remains active as a global pharmaceutical manufacturer, with its positioning built around broad generic scale, specialty medicines, complex products, and access to lower-cost healthcare.
History
Teva's earliest predecessor was Salomon, Levin and Elstein Ltd., a wholesale medicine business established in Jerusalem in 1901. Its early distribution network used camel transport and served communities in the region. During the 1930s, Jewish immigrants from Europe established several pharmaceutical manufacturers in Mandatory Palestine, creating the industrial environment from which the modern Teva developed. Günther Friedländer and Else Kober founded Teva Middle East Pharmaceutical & Chemical Works in Jerusalem on May 1, 1935. Friedländer, a German-trained pharmacist, botanist, and pharmacognosist, had immigrated to Palestine the previous year. The business was financed through family funds, loans from other German immigrants, and an investment by banker Alfred Feuchtwanger. During the Second World War, Teva supplied medicines to Allied forces, especially the British military in the Middle East. Its export activity later extended to countries and institutions in the Middle East, Europe, Asia, the United States, and the Soviet Union. Teva became a public company in 1951 when it raised capital through the Tel Aviv Stock Exchange. In the following decade it developed relationships with international pharmaceutical companies including Sintex and Schering-Plough. Assia, a company associated with the Salomon, Levin and Elstein business, and Zori merged in 1964 and later acquired control of Teva. The three companies combined in 1976, forming the modern Teva Pharmaceutical Industries Ltd. Teva then expanded its Israeli manufacturing base through acquisitions including Ikapharm and Plantex. FDA approval for its Kfar Saba plant in 1982 helped establish the company as a credible supplier to the regulated United States market. International expansion accelerated during the 1990s and 2000s. Teva acquired Biogal in Hungary and an Italian business in 1995, Novopharm in Canada in 2000, and Sicor in 2004. Sicor strengthened Teva's injectable and biosimilar capabilities. The acquisition of Ivax in 2006 made Teva a much larger global generic-drug company, while purchases of Bentley Pharmaceuticals and Barr Pharmaceuticals expanded its Spanish, North American, and European operations. Barr also brought Pliva into the Teva group. The company entered Japan through local partnerships and established a large manufacturing facility in Jerusalem's Har Hotzvim technology park. During the next decade, Teva purchased Ratiopharm, Cephalon, Taiyo Pharmaceutical Industry, NuPathe, Labrys Biologics, Auspex Pharmaceuticals, Rimsa, and other businesses. These transactions expanded its European generic network and added branded and specialty assets in central nervous system, movement-disorder, respiratory, and migraine categories. In 2015, Teva attempted to acquire Mylan, but the proposal did not proceed. Instead, Teva agreed to buy Allergan's generic-drug business, Actavis Generics, for approximately $40.5 billion. The transaction closed in 2016 and created one of the industry's largest generic platforms. Teva also acquired Anda, Allergan's generic distribution business, in a separate transaction. The scale of the Actavis transaction contributed to a significant increase in Teva's debt and exposure to falling prices in the United States generic market. To secure regulatory approval and address competition concerns, Teva divested products to companies including Dr. Reddy's Laboratories, Zydus, Impax, Mayne Pharma, Cipla, and other buyers. It later sold portions of its United Kingdom and Ireland generic business and disposed of women's-health, contraception, fertility, menopause, osteoporosis, and emergency-contraception assets. The Paragard intrauterine contraceptive business was also sold. In 2017, declining profitability led to a dividend reduction, leadership change, and a large cost-cutting program. Kåre Schultz was appointed chief executive officer and oversaw restructuring intended to reduce expenses and debt. The Israeli government and labor representatives negotiated over the timing and extent of some Israeli layoffs. Teva continued to operate a global manufacturing and commercial network while concentrating its portfolio on core generic medicines, specialty products, and selected growth platforms. The company has also faced continuing legal and regulatory scrutiny. Allegations relating to generic-drug price coordination resulted in United States criminal proceedings and a major penalty announced in 2023. Teva has additionally been involved in opioid-related litigation and public criticism over the discontinuation of vincristine in 2019. These issues have influenced its compliance programs, public reputation, and relationships with regulators and healthcare stakeholders. Despite these challenges, Teva remains an active multinational pharmaceutical manufacturer listed in Israel and the United States.
- 2023
United States antitrust penalty
[1]Teva pays a major criminal penalty connected with a United States generic-drug price-fixing investigation.
- 2017
Restructuring and leadership transition
[1]Teva appoints Kåre Schultz, cuts its dividend, and announces a substantial global cost-reduction and workforce program.
- 2016
Actavis Generics transaction closes
[1]Teva completes the acquisition after regulatory divestitures and becomes one of the world's largest generic-drug platforms.
- 2015
Teva agrees to acquire Actavis Generics
[1]The proposed purchase of Allergan's generic-drug business becomes Teva's largest strategic expansion.
- 2011
Cephalon and Taiyo transactions
[1]Teva acquires Cephalon and a majority interest in Japan's Taiyo Pharmaceutical Industry, adding specialty products and local Japanese manufacturing.
- 2010
Ratiopharm acquisition
[1]Teva acquires the German generic-drug company Ratiopharm, significantly strengthening European coverage.
- 2008
Barr Pharmaceuticals acquisition
[1]The transaction adds Barr and its Pliva business to Teva's international generic portfolio.
- 2006
Ivax acquisition
[1]Teva acquires a major United States generic-drug rival and increases its global scale.
- 2004
Sicor acquisition
[1]The purchase broadens Teva's injectable, specialty, and biosimilar capabilities.
- 2000
Novopharm acquisition
[1]Teva acquires the Canadian generic-drug company Novopharm, expanding its North American presence.
Products and positioning
A global, scale-driven pharmaceutical company combining leadership in generic medicines with specialty therapies, biosimilars, complex products, and active pharmaceutical ingredients.
Specialty medicine
Austedo
A branded deutetrabenazine medicine used for chorea associated with Huntington's disease and for tardive dyskinesia. Austedo is one of Teva's principal specialty products and represents the company's emphasis on central nervous system therapies alongside its generic-drug business.
Specialty medicine
Ajovy
A fremanezumab-based preventive treatment for migraine in adults. Ajovy is part of Teva's specialty-neuroscience portfolio and reflects the company's effort to develop branded therapies with differentiated clinical uses.
Specialty medicine
Copaxone
A glatiramer acetate medicine used in the treatment of multiple sclerosis. Copaxone became one of Teva's most recognized branded products and historically served as a major specialty-drug anchor while the company expanded its generic operations.
Oncology medicine
Bendeka
A branded bendamustine hydrochloride product used in oncology. It is primarily associated with Teva's United States specialty and hospital portfolio and was obtained through the company's expansion of branded pharmaceutical assets.
Oncology medicine
Treanda
A bendamustine-based oncology product sold primarily in the United States. Treanda is part of the branded portfolio linked to Teva's specialty and cancer-treatment businesses.
Neurology medicine
Azilect
A branded rasagiline medicine used in the management of Parkinson's disease. The product has also been marketed under the name Agilect in some countries and illustrates Teva's historical interest in neurological therapies.
Generic pharmaceuticals
Generic medicines
Teva develops and manufactures a broad range of off-patent prescription medicines across therapeutic areas, dosage forms, and markets. Generic scale is the foundation of the company, with products supplied through pharmacies, hospitals, wholesalers, and public healthcare systems.
Active pharmaceutical ingredients
Teva Active Pharmaceutical Ingredients
TAPI is Teva's active pharmaceutical ingredients business. It operates as a distinct business unit and supplies ingredients to Teva and external pharmaceutical customers, supporting vertical integration and third-party commercial activity.
Controversies
2023
Generic-drug price-fixing investigation and penalty
Teva was involved in United States criminal antitrust proceedings concerning alleged coordination to fix prices for generic medicines. The company paid a major penalty in 2023, making the matter one of the most significant legal controversies in its corporate history.
2022
Teva settles investor price-fixing lawsuit
Teva settled a US investor class action over alleged price fixing, agreeing to pay $420 million without admitting wrongdoing. Teva denied the claims; the lawsuit followed an investigation by US authorities into alleged price fixing in the generic drugs industry.
2021
Mylan sues Teva over alleged Copaxone competition restraints
Mylan Pharmaceuticals filed a federal lawsuit against Teva, alleging that Teva used tactics to delay competition for its multiple sclerosis drug Copaxone. The allegations are not presented as a court determination, and Teva had not yet responded.
2020
U.S. government sues Teva over alleged Copaxone kickbacks
The U.S. Department of Justice sued Teva Pharmaceutical Industries under the Federal False Claims Act. The lawsuit alleges that Teva companies used purportedly independent foundations to pay Medicare co-pays for Copaxone patients in violation of the Anti-Kickback Statute. The allegations are not presented as a court finding.
2020
EU fines Teva over generic modafinil delay agreement
In a controversy noted in 2020, the European Union fined Teva Pharmaceutical Industries after the European Commission stated that Teva had breached EU antitrust rules. According to the Commission, Teva agreed with Cephalon to keep a cheaper generic version of the drug modafinil off the market. The Commission's position was that this agreement prevented the lower-priced generic modafinil from reaching the market, in violation of EU competition rules. The fine was imposed by the European Union on that basis. The event concerns the antitrust finding and penalty announced by the EU regarding the agreement over generic modafinil.
2019
Criticism over vincristine discontinuation
Teva faced criticism after deciding to discontinue vincristine in the United States. Because the medicine is used in treatment regimens for many childhood cancers, the decision prompted concern about shortages and the responsibilities of manufacturers of essential medicines.
Brand decisions
2017
Launch global cost-reduction and debt-reduction programStrategyBackground
Lower generic-drug prices, weaker profitability, and debt incurred through the Actavis Generics acquisition placed pressure on Teva's finances.
Action taken
Teva cut its dividend, announced major workforce reductions, and began a broad restructuring and asset-disposal program.
Aftermath
The strategy led to plant and workforce changes, delayed portions of some Israeli layoffs following negotiations, and accelerated the sale of non-core products and businesses.
2015
Agree to acquire Actavis GenericsM&ABackground
Teva sought transformational scale in generic medicines after its proposed pursuit of Mylan did not proceed.
Action taken
Teva agreed to buy Allergan's Actavis Generics business and later completed the transaction after competition-related asset sales.
Aftermath
The deal created one of the world's largest generic-drug businesses but significantly increased leverage and contributed to subsequent restructuring and divestitures.
Announced transaction value. $40.5 billion, comprising cash and Teva shares (Announced in 2015; completed in 2016)
2011
Acquire CephalonM&ABackground
Teva aimed to increase its branded specialty-medicine presence and reduce reliance on commoditized generic products.
Action taken
Teva acquired specialty pharmaceutical company Cephalon.
Aftermath
The acquisition added branded therapies and specialty commercial capabilities, while some products were later divested for regulatory reasons.
Acquisition consideration. $6.8 billion (Announced and completed in 2011)
2008
Acquire Barr PharmaceuticalsM&ABackground
Teva continued consolidating the generic-drug sector and sought greater access to North American and European products.
Action taken
Teva completed its acquisition of Barr Pharmaceuticals, bringing Barr's Pliva business into the group.
Aftermath
The transaction increased Teva's scale and geographic breadth.
Acquisition consideration. $7.5 billion (Completed in December 2008)
2006
Acquire IvaxM&ABackground
Teva pursued a larger North American generic platform and greater scale in regulated pharmaceutical markets.
Action taken
Teva acquired United States generic-drug company Ivax.
Aftermath
The deal materially expanded Teva's international reach and generic portfolio.
Acquisition consideration. $7.4 billion (Completed in 2006)
2004
Acquire SicorM&ABackground
Teva sought to broaden its portfolio beyond conventional oral generics and expand its presence in injectable products and biotechnology-related medicines.
Action taken
Teva completed the acquisition of Sicor, strengthening its injectable and biosimilar capabilities.
Aftermath
The transaction helped establish a platform for later biosimilar and complex-product activity.
Acquisition consideration. $3.4 billion announced consideration (Announced in 2003; completed in January 2004)
Recent events
- Unconfirmed
Teva wins FDA approval for monthly schizophrenia injection Weltruza[8]
Reported:
Teva received U.S. FDA approval for Weltruza, a monthly injection for the treatment of schizophrenia, as reported by Reuters.
- Unconfirmed
BioXcel agrees to sell assets to Teva for up to $145M[9]
Reported:
BioXcel Therapeutics agreed under an asset purchase agreement to sell substantially all its assets to Teva for $57.5 million in upfront cash plus assumption of certain liabilities, with up to an additional $67.5 million tied to its pending FDA application for at-home use of Igalmi and up to $20 million more if sales thresholds are met. Teva's offer serves as a stalking horse bid subject to court approval.
Teva settles investor price-fixing lawsuit[6]
Reported:
Teva settled a US investor class action over alleged price fixing, agreeing to pay $420 million without admitting wrongdoing. Teva denied the claims; the lawsuit followed an investigation by US authorities into alleged price fixing in the generic drugs industry.
Teva agrees to $420 million shareholder litigation settlement[7]
Reported:
Teva agreed to pay $420 million to settle shareholder litigation alleging that it concealed an anti-competitive scheme to fix generic drug prices. Teva did not admit wrongdoing, and the agreement requires approval by the judge overseeing the case.
- Unconfirmed
Teva upsizes and prices sustainability-linked notes offering[10]
Teva announced that it had increased the size of its sustainability-linked senior notes offering and priced approximately $5 billion equivalent of notes. The offering proceeds are intended primarily to repay existing debt.
Bioeq and Teva enter commercialization agreement for ranibizumab biosimilar[11]
Reported:
Bioeq, a joint venture company of Polpharma Biologics Group and Santo Holding, concluded a commercial partnership with Teva for its ranibizumab biosimilar candidate in Europe, Canada, Israel and New Zealand.
Mylan sues Teva over alleged Copaxone competition restraints[5]
Reported:
Mylan Pharmaceuticals filed a federal lawsuit against Teva, alleging that Teva used tactics to delay competition for its multiple sclerosis drug Copaxone. The allegations are not presented as a court determination, and Teva had not yet responded.
EU fines Teva over generic modafinil delay agreement[4]
Reported:
The European Union fined Teva after the European Commission said Teva breached EU antitrust rules by agreeing with Cephalon to keep a cheaper generic modafinil drug off the market.
- Unconfirmed
U.S. government sues Teva over alleged Copaxone kickbacks[3]
Reported:
The U.S. Department of Justice sued Teva under the Federal False Claims Act. The lawsuit alleges that Teva companies used purportedly independent foundations to pay Medicare co-pays for Copaxone patients in violation of the Anti-Kickback Statute; the allegations are not presented as a court finding.
Eurolife completes acquisition of Teva's Hungarian IV infusion business[12]
Reported:
Eurolife Healthcare said it completed the acquisition of Teva Pharmaceutical Industries' intravenous infusion business in Hungary.
Sources13 sources
- 1Teva Pharmaceuticalsen.wikipedia.org
- 2Teva Pharmaceuticals official websitetevapharm.com
- 3U.S. government sues Teva over alleged Copaxone kickbacksfinanznachrichten.de
- 4EU fines Teva over generic modafinil delay agreementisraelnationalnews.com
- 5Mylan sues Teva over alleged Copaxone competition restraintsyahoo.com
- 6Teva settles investor price-fixing lawsuiten.globes.co.il
- 7Teva settles investor price-fixing lawsuittheepochtimes.com
- 8Teva 抗精神分裂症月度注射剂 Weltruza 获 FDA 批准news.google.com
- 9BioXcel同意以最高1.45亿美元向Teva出售资产hartfordbusiness.com
- 10Teva扩大并定价可持续发展挂钩票据发行itbusinessnet.com
- 11Bioeq 与 Teva 达成雷珠单抗生物类似药商业化协议finanznachrichten.de
- 12Eurolife完成收购Teva匈牙利静脉输液业务health.economictimes.indiatimes.com
- 13Teva reaches $225m Texas opioid settlementen.globes.co.il
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