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February 22, 2000 3:20 p.m.
Teva Pharmaceutical Industries Ltd. to Launch Generic Equivalent of Voltaren XR Immediately

Jerusalem, Israel, February 22, 2000 - Teva Pharmaceutical Industries Ltd, (NASDAQ: TEVA) announced that it will immediately launch Diclofenac Extended Release (once-a-day) in its 100 mg dosage form.

Diclofenac Extended Release is the generic equivalent of Novartis Voltaren XR, which is indicated for the treatment of osteoarthritis and rheumatoid arthritis. Branded sales of Voltaren XR in the United States for the twelve months ended December 31st, 1999 were $98 million.

On February 17, 2000 Biovail Corporation International (NYSE: TSE: BVF) received the first final approval from the FDA for the generic version of Voltaren XR. Teva has exclusive marketing rights from Biovail for this product amoung others for the United States.

Teva Pharmaceutical Industries Ltd., is Israel's largest pharmaceutical company, with 80% of its sales outside Israel, mainly in the United States and Europe. The Company develops, manufactures and markets generic and branded human pharmaceuticals, active pharmaceutical ingredients, medical disposables and veterinary products.

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 current 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 Teva's ability to successfully develop and commercialize additional pharmaceutical products, the introduction of competitive generic products, the impact of competition from brand-name companies that sell their own generic products or successfully extend the exclusivity period of their branded products, Teva's ability to rapidly integrate the operations of acquired businesses, the availability of product liability coverage in the current insurance market, 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 ("FDA") and other regulatory authority approvals, the regulatory environment and changes in the health policies and structure of various countries, acceptance and demand for new pharmaceutical products and new therapies, uncertainties regarding market acceptance of innovative products newly launched, currently being sold or in development, the impact of restructuring of clients, reliance on strategic alliances, exposure to product liability claims, dependence on patent and other protections for innovative products, fluctuations in currency, exchange and interest rates, operating results 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 ("SEC"). Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.