Rapid changes are transforming the global pharmaceutical market, whichis subject to considerable pressure from various governments as well as from the ultimate consumers who strive to lower their health costs, according to Eli Hurvitz, chief executive of Israeli drug company, Teva. As a result, the pharmaceutical market is undergoing changes in its economic values and significant consolidation.
As a company dedicated to becoming a leader in the generic industry, Teva will have to acquire more companies, learn to integrate them quickly and efficiently and to create synergies both for the short and the long term, he told shareholders in his annual letter.
The pace of Teva's acquisition activity has changed. While during the first half of this decade the contribution of acquisitions to the company's sales growth accounted for only a few percentage points, in 1996 around 30% of sales ($276 million out of a total of $953 million) resulted from acquisitions completed during 1995 and 1996.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze