Teva Grows 10% in Spain, Up to 160 Million in the First Half

Teva strengthens its position in the Spanish market. The Israeli pharmaceutical company, which has its main production plant in the country, has closed the first six months of the year with a turnover of 160 million euros, 10% more than in the same period of the previous year, according to El Economista.

The figures obtained up to the first half of the year are above Teva’s annual forecasts, which anticipate a growth of 7.5% for 2024 in the Spanish market.

Over the past year, the group has accelerated its business in the country. The company has invested more than seventy million euros in the Spanish market since 2008. Of this total, 16 million have been invested in the last year and a half.

Teva’s plans in Spain include continuing to invest in production and launching between five and six more products on the market before the end of the year. The company, which launches between ten and fifteen medicines a year, plans to have a new drug every two or three years in the future.

Teva concentrates 87% of its global production in its Zaragoza plant

Specifically, the Israeli pharmaceutical company aims to enter two areas: tardive dyskinesia and psychiatry , with a treatment for serious mental illnesses. Currently, Teva’s portfolio focuses on neuroscience and the autoimmune system.

“We are participating in a global clinical study with Spanish centres for a treatment against ulcerative colitis of Crohn’s disease,” says Carlos Conde, general manager of Teva in Spain. This pathology is key to the development of the company’s business, since there are only two centres in the world that are carrying out studies for Crohn’s disease and ulcerative colitis and they are its facilities in the United States and in Zaragoza.

The capital of Zaragoza also concentrates the bulk of Teva’s production worldwide, accounting for 87% of the group’s drug manufacturing . In addition, 96% of the total sold in Europe is also made in Zaragoza.

Teva expects global revenue of more than $16.4 billion this year, supported by low-cost but high-demand drugs such as Huntington’s disease drugs and GLP-1.

Headquartered in Tel Aviv, Teva is a 123-year-old company whose flagship products are Copaxone, indicated for the treatment of multiple sclerosis, and Azilect, which combats the onset of Parkinson’s disease. With the first drug alone, the Israeli company achieved annual sales of 4.3 billion euros in 2016 , one year after the end of the patent on the drug.

But the fact that it wanted to maintain a dominant position in the distribution of Copaxone by abusive practices against distributors of the generic drug led the European Commission to initiate a formal process to sanction Teva.

In July 2021, Juan Carlos Conde was appointed General Manager of the company for Spain and Portugal, replacing Carlos Teixeira, who retired at the same time.

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