Storyboard or timeline
1901-1930
In 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
Levin
and Yitschak
Elstein
. The business is named
S.L.E
after its founders.
1930 - 1940: A New Pharmaceutical Industry is Founded
Conditions 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 Tel
Aviv and
Teva
established by
Dr. Gunter Friedlander
in Jerusalem.
1940 - 1960: Expansion of the Local Drug Market
With 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 of
Israel
is 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 Industry
A 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 called
Assia Chemical Industries Ltd
.
This plant would later become Teva’s API (Active Pharmaceutical Ingredients) division.
1972-
Formation of
Biological Laboratories Teva Ltd
. in Israel
1972/74-
Compulsory license granted authorizing Teva to produce patented medicines, starting
with SmithKline’s antibiotic
Penibrin®.
Cooperation begins with global pharmaceutical
companies.
1976- Eli Hurvitz
formally 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
Orphahell
in 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.
