Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Teva Pharmaceuticals Sells Plants in Sellersville, PA

G&W Pharmaceuticals will have the right to produce and sell some of Teva’s products

Teva in Sellersville,   PA

Israeli Teva Pharmaceuticals is raising funds by selling its plant  in Sellersville, Pennsylvania to G&W Labs. The move will help the company streamline operations and reduce costs. 

Teva will sell rights to 25 of its products to G&W to produce at the Sellersville factory and sell. It will also produce other items that will be supplied to Teva until production can be moved to other sites. Most of those who already work at the plant will retain their jobs. G&W will have the right to sell two other Teva products that will be made at its Zagreb, Croatia facility.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Teva’s Global Operations president and CEO Carlo de Notaristefani told Globes, “Teva is managing operations to create greater efficiencies and to position the company for long-term growth and success. We have a qualified and dedicated team in Sellersville, and we are pleased that we were able to come to an agreement with G&W Laboratories that will enable them to continue working in their current community.”

It certainly pays to be an executive at Teva Pharmaceuticals. The top 5 execs were paid a total of 95 million shekel or $24.5 million, Globes reports. Former Teva for the Americas President and CEO Allan Oberman made $7.3 million or 28 million shekel.

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.