History of Teva Pharmaceuticals

Teva Pharmaceuticals is a global pharmaceutical company founded in Jerusalem, Israel, in 1901. Originally a small wholesale drug business, Teva expanded significantly under the leadership of Dr. Eli Hurvitz, who became CEO in 1976. Under Hurvitz's guidance, Teva transitioned from a local supplier to a multinational corporation. The company made its mark by specializing in generic drugs, becoming the world's largest generic drug manufacturer. Teva's growth was marked by numerous acquisitions, including its purchase of the U.S.-based Ivax Corporation in 2005, which significantly expanded its global footprint.

Throughout its history, Teva has faced challenges and controversies, including legal battles over patents and accusations of price-fixing. Despite these hurdles, Teva has remained a key player in the pharmaceutical industry, leveraging its scale and expertise to provide affordable medications worldwide. In recent years, the company has focused on restructuring and streamlining operations under new leadership to regain financial stability and position itself for future growth in the competitive pharmaceutical market.