Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) is moving its global headquarters from Petah Tikva to the Ramat Hahayal district of Tel Aviv, the company has announced.
Teva SVP global human resources Mark Sabag said that, "The expected move-in date will be mid-2020."
He wrote to employees today that, "We have chosen a site located in Ramat Hayal, Tel Aviv, at a new building which will be housed in full by Teva's headquarters' employees. Combining into one site will fulfill our goal of working as One Teva, and will be an efficient and cost effective solution, generating significant savings from a business and operations point of view."
The Tel Aviv headquarters will replace the current head office in Petah Tikva, which is at sites scattered around the city.
The news of Teva's investment in a new Tel Aviv headquarters will soothe concerns in recent years, especially after the recent aggressive round of layoffs, that Teva is losing its Israeli identity and might even consider moving its headquarters overseas.
Published by Globes, Israel business news - en.globes.co.il - on December 13, 2018
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