Teva Pharmaceutical Industries Ltd has recently made headlines regarding its schedule to launch America’s leading generic version of Viagra, which is a little blue pill revolutionized the erectile dysfunction treatment. Teva is referred to be a big multinational company, which plays a major role in today’s generics market. It also manufactures and distributes a wide range of medical devices and specialty drugs. Here are some facts concerning Teva, which you may not know:
Even though it operates all over the world, Teva maintains Israel as its headquarters. Further, it possesses a string of facilities required for manufacturing, which are scattered across four major continents including North America, Asia, Europe and South America as well. The U.S headquarters of this company is situated in North Wales, Pennsylvania.
The company has started to root its small business of wholesaling drugs in Jerusalem in the year 1901 by Moshe Levin, Chaim Salomon and Yitschak Elstein. During the mid of 1930, the local pharmaceutical business had turned out to be robust enough in order to sustain manufacturing plants based on locales. At this time, Levin, Elstein and Salomon set up an operation for manufacturing. Other such operations will be founded roughly by Teva in Jerusalem and Zori in Tel Aviv. In the year 1976, almost all the three organizations merged into Teva. With the intention to realize its objective of becoming a main player in the worldwide pharmaceutical business, Teva has acquired Ikapharm in 1980.
The company had started to manufacture and even distribute several hundreds of generic medicines all across the world. In the US alone, Teva markets above 400 generic drugs that are available in above 1300 dosage strengths as well as packaging sizes. This includes injectables, oral medications, and inhaled products too.
Though Teva sells its specialty medicines and generics all around the world, the US is referred to be the world’s largest revenue yielder. According to the recent survey , about 52 % of Teva’s total revenue was generated out of US sales while comparing with 25% out of Europe and 23% from the remaining parts of the world.
Specialty products will be accounted for about 52% of profits earned by Teva, which is then followed by the generics with 41% of profits in addition to other sources that will be accounted for about 7%.
According to the court-supervised agreement, it is recognized that patent of Pfizer on Viagra is valid till April 2020. Beneath this agreement, Teva would also be obligated to reimburse Pfizer as a royalty for a privilege of distributing a generic form of Viagra until the patent of Pfizer on drug get expired in the year 2020. Although the patent of Pfizer has found to be expired already in various countries, Treva is still marketing its generic forms of Slidenafil citrate, which is an active ingredient in a little blue pill.