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Storyboard or timeline1901-1930In the Beginning...Established in Jerusalem in 1901, the company known today as Teva starts out as a small wholesale drug business that distributes imported medications.10
1901- A small wholesale drug business is established in Jerusalem by Chaim Salomon, Moshe Levinand Yitschak Elstein. The business is named S.L.Eafter its founders.1930 - 1940: A New Pharmaceutical Industry is FoundedConditions are ripe for establishing a local pharmaceutical industry. New manufacturing plants are founded and quickly gain momentum. During World War II, these plants are the sole source of pharmaceutical supplies for the local market, neighboring countries and the British Army stationed in the Middle East.1935- Salomon, Levin and Elstein open a small pharmaceutical plant called Assia(Aramaic for doctor) in Petah Tikva. Other plants founded at this time include Zori(Hebrew for health) in TelAviv and Tevaestablished by Dr. Gunter Friedlanderin Jerusalem.1940 - 1960: Expansion of the Local Drug MarketWith the founding of the State of Israel, the local drug market expands rapidly. Established pharmaceutical manufacturing companies grow, including Teva. While most are privately owned, Teva begins trading on the Tel Aviv Stock Exchange in 1951.1948- The State ofIsraelis founded, bringing massive immigration and rapid growth of the local drug market.1951- Teva begins trading on TASE(Tel Aviv Stock Exchange) as the Teva Middle East Pharmaceutical Chemical Works Company Ltd.1960 - 1980 : Consolidation of the Local Pharmaceutical IndustryA period of consolidation in the Israeli pharmaceutical industry beginning in the 1960s culminates with the 1976 union of Teva, Assia, and Zori to create Israel’s largest drugmaker, Teva Pharmaceutical Industries Ltd. Teva takes its first step abroad into Europe.1964- Fiscal merger of Assia and Zori, marking a period of rapid growth.1968- Assia-Zori acquires a controlling stake in Teva.1971- Chemical plant established in Petah Tikva, Israel calledAssia Chemical Industries Ltd. This plant would later become Teva’s API (Active Pharmaceutical Ingredients) division.1972- Formation of Biological Laboratories Teva Ltd. in Israel1972/74- Compulsory license granted authorizing Teva to produce patented medicines, starting with SmithKline’s antibiotic Penibrin®.Cooperation begins with global pharmaceutical companies.1976- Eli Hurvitzformally merges Assia, Zori and Teva to form Teva Pharmaceutical Industries Ltd., Israel's largest healthcare company, and becomes its CEO.1976- Teva purchases 50% of Israeli yeast and alcohol fermentation business Paca Ltd.11
1977- Acquisition of Orphahellin the Netherlands. This API plant is Teva’s first step into Europe, and the start of a chain of international acquisitions.1979- Teva establishes corporate offices in Petah Tikva, Israel. They remain there to this day.