FILED UNDER SOMETHINGISRAELI >> Business
By the middle of January 2006, Israeli drugs company Teva will have merged with Florida drugs company Ivax to create the world's biggest manufacturer of generic pharmaceuticals.
Earlier this year, it announced its acquisition of the American company for $7.4bn and based on current growth, many are predicting the new Teva-Ivax to overtake world leader Pfizer.
Its products offer an alternative to branded drugs and are much cheaper for both private patients as well as state run and private health services to purchase.
From capsules to lotions and injection shots to creams, Teva offers a full range of medicines.
Among the products are Leflunomide Tablets for rheumatoid arthritis and Zaleplon Capsules for treatment of insomnia
Since its founding in Jerusalem in 1901, Teva has grown rapidly across the globe including the UK where it acquired companies dating back from the 1930s when it entered the UK through its acquisition of Approved Prescription Services (APS) in 1996. Its Teva Hospitals division supplies various products and services to the NHS across the country including Warfarin, Hydrocortisone and Diazepam.
As well as manufacturing generic drugs, Teva also develops products. Copaxone is a market leading product it owns for the treatment for multiple sclerosis.
For more information: www.tevapharm.com