Source Pravda.Ru

TEVA seeks to find alternatives for its animal health business

By Alex Steblinina. Teva Pharmaceutical Industries Ltd seeks for alternatives for its animal health business. The company said a divestiture is possible.

Teva says that its animal health business is strong and sees good prospects for the future, but it’s a good time to find alternatives for it. The company develops, manufactures and markets proprietary and generic animal health products.

It is the largest generic drug manufacturer in the world and one of the 20 largest pharmaceutical companies worldwide. In 2006, its sales totaled $8.4 billion, of which 80% in Europe and North America. After its acquisition of U.S. rival Ivax Corporation in January 2006, the company has about 26,000 employees in 50 countries. Teva's facilities are located in Israel, North America, Europe and Latin America.

TEVA is a client of Huntingdon Life Sciences (HLS), which is the focus of an international animal rights campaign, Stop Huntingdon Animal Cruelty.

Source: agencies