Teva to build $50m pharmaceutical plant in Russia

The Yaroslavl plant will manufacture oral medicines.

Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) will build a pharmaceutical plant at an investment of $50 million in Yaroslavl, Russia. Teva president and CEO Shlomo Yanai signed the agreement on Friday at Sochi Economic Forum with Yaroslavl Governor Sergey Vahrukov in the presence of Russian Prime Minister Vladimir Putin.

The first phase of the plant, for the manufacture of oral medicines, is due to be completed by 2014.

Yanai said, "This investment will boost Teva's ability to provide accessible quality healthcare to the Russian people and neighboring markets. It will further allow Teva to enhance its regional presence and sustain its fast growth in Russia for years ahead.

Published by Globes [online], Israel business news - - on September 20, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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