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|February 21, 2008 2:38 p.m.|
|Teva Presents Growth Strategy At Investor Day Company Provides Long Term Strategic Goals Teva Announces Closing Of Cogenesys Acquisition|
|Jerusalem, Israel, February 21, 2008 - During its Investor Day, Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) presented the results of its strategic review, highlighted key opportunities for growth, and announced the Company's long term goals of doubling the size of its business by 2012, and generating revenues of $20 billion and net income margins exceeding 20%. |
In achieving its goals, Teva plans to continue to leverage its most important competitive advantages: the Company's global footprint, the industry's broadest product portfolio, and the commitment of Teva's employees to global generics leadership.
"We are pleased to have the opportunity to share the results of our strategic review with our investors and analysts so they can fully appreciate why we are so excited about the prospects for our business," said Shlomo Yanai, Teva's President and CEO. "Today, we provided a detailed view of Teva's market opportunities, strategic direction, growth engines, and our plan for executing our strategy over the next five years. Teva is dedicated to building on its global leadership in generics and growing its other supportive businesses, and will continue to have an unwavering focus on product quality, service and sustained growth."
Separately, the Company announced today the closing of its acquisition of privately-held CoGenesys Inc., a biopharmaceutical company with a broad based biotechnology platform and focused on the development of peptide- and protein-based medicines across broad therapeutic categories. CoGenesys will be incorporated into Teva's existing biopharmaceutical operations.
A webcast of today's event, as well supplemental information in the form of a slide presentation, can be accessed through the Company's website at www.tevapharm.com.
Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among the top 20 pharmaceutical companies in the world and is the world's leading generic pharmaceutical company. The Company develops, manufactures and markets generic and innovative human pharmaceuticals and active pharmaceutical ingredients, as well as animal health pharmaceutical products. Over 80 percent of Teva's sales are in North America and Europe.
Safe Harbor Statement under the U. S. Private Securities Litigation Reform Act of 1995:
This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on management's current beliefs and expectations and involve a number of known and unknown risks and uncertainties that could cause Teva's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: Teva's ability to rapidly integrate CoGenesys' operations with its own operations, the diversion of management time on merger-related issues, and Teva and CoGenesys' ability to successfully develop and commercialize biopharmaceutical products, Teva's ability to accurately predict future market conditions, potential liability for sales of generic products prior to a final resolution of outstanding patent litigation, including that relating to the generic versions of Allegra®, Neurontin®, Lotrel® Famvir®, and Protonix®, Teva's ability to successfully develop and commercialize additional pharmaceutical products, the introduction of competing generic equivalents, the extent to which Teva may obtain U.S. market exclusivity for certain of its new generic products and regulatory changes that may prevent Teva from utilizing exclusivity periods, competition from brand-name companies that are under increased pressure to counter generic products, or competitors that seek to delay the introduction of generic products, the impact of consolidation of our distributors and customers, the effects of competition on our innovative products, especially Copaxone® sales, the impact of pharmaceutical industry regulation and pending legislation that could affect the pharmaceutical industry, the difficulty of predicting U.S. Food and Drug Administration, European Medicines Agency and other regulatory authority approvals, the regulatory environment and changes in the health policies and structures of various countries, our ability to achieve expected results though our innovative R&D efforts, Teva's ability to successfully identify, consummate and integrate acquisitions, potential exposure to product liability claims to the extent not covered by insurance, dependence on the effectiveness of our patents and other protections for innovative products, significant operations worldwide that may be adversely affected by terrorism, political or economical instability or major hostilities, supply interruptions or delays that could result from the complex manufacturing of our products and our global supply chain, environmental risks, fluctuations in currency, exchange and interest rates, and other factors that are discussed in Teva's Annual Report on Form 20-F and its other filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.