Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has opened a new plant in Hungary. The $110 million plant in Gödöllő, is one of the largest sterile medicines plants in the world.
The plant has an annual production capacity of 160-200 million units of injectables - mainly cytotoxics, which are used in oncology therapeutics. Its six production lines can produce six different products simultaneously. The 15,000-square meter plant will supply medicines to patients in over 70 countries in Europe, North America, and the Far East.
"Our major investment in our operations in Gödöllő and the additional capacity it creates will benefit patients in Hungary and in many countries in Europe, North America and Asia," said Teva president and CEO Dr. Jeremy Levin. "Our focus is on making medicines to improve the lives of the patients who depend on us, and this investment will help us continue our work to provide important sterile medicines to people around the world."
Teva has been operating in Hungary since 1993, and has been investing hundreds of millions of dollars in production and R&D. The pharmaceutical company currently operates in three plants in the country: a tablet production facility, Teva Debrecen; the sterile plant in Gödöllő; and an advanced pharmaceutical ingredients manufacturing facility in Sajóbábony. The company has more than 3,500 employees in Hungary.
Published by Globes [online], Israel business news - www.globes-online.com - on October 14, 2012
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