Teva Pharmaceuticals

Teva's journey began in 1901 in Jerusalem, then part of Ottoman Palestine, as a small wholesale drug business named Salomon, Levin, and Elstein Ltd. Named after its pharmacist founders, Chaim Salomon, Moshe Levin, and Yitschak Elstein, the young company initially focused on distributing imported medicines throughout the region, utilizing traditional means like mule trains and camel caravans. The 1930s witnessed an influx of European immigrants who established several pharmaceutical companies, including Teva itself, alongside others like Assia and Zori. As demand for locally produced medicines grew, so did the company.

A significant milestone occurred in 1951 when Teva went public, raising capital through the newly established Tel-Aviv Stock Exchange. The 1960s brought further consolidation and growth; in 1964, Assia and Zori merged and subsequently acquired a controlling stake in Teva. This eventually led to the 1976 merger of all three companies, forming the modern Teva Pharmaceutical Industries Ltd. The name 'Teva' itself is the Hebrew word for 'nature'. The company's expansion continued with strategic acquisitions, including Ikapharm, then Israel's second-largest drug manufacturer, and Plantex in 1980. A crucial step for international market access was achieved in 1982 when Teva received FDA approval for its Kfar Saba manufacturing plant. Over the decades, Teva has grown significantly through numerous successful acquisitions, integrating and enhancing its expertise in both innovative and generic medicines, and expanding into new therapeutic areas and markets. Today, Teva stands as a global pharmaceutical leader, specializing primarily in generic drugs but also maintaining business interests in branded medications, active pharmaceutical ingredients (APIs), and to a lesser extent, contract manufacturing services and an out-licensing platform. It is recognized as the largest generic drug manufacturer globally and ranks among the top pharmaceutical companies worldwide.