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|December 12, 2003 4:53 p.m.|
|Teva Announces Filing of Universal Shelf Registration Statement|
|Jerusalem, Israel, December 12, 2003 - Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) announced today that it has filed a universal shelf registration statement with the U.S. Securities and Exchange Commission. The registration statement will allow Teva to offer from time to time up to $2 billion in various types of securities, including ADRs, debt securities, which may be convertible into ADRs, and other securities. The debt securities may be issued by Teva directly or through one or more special purpose finance subsidiaries guaranteed by Teva. |
Dan Suesskind, Chief Financial Officer of Teva, commented: "We may use part of this shelf registration statement to finance or refinance part of the cash portion of the pending Sicor acquisition. In any case, we do not have any immediate plans to utilize the entire amount covered by this shelf, but instead have filed this universal shelf to maintain financial flexibility for future needs."
After the registration statement has been declared effective, Teva may sell the securities in one or more separate offerings in amounts, at prices and on terms to be determined at the time of sale. If and when Teva offers any securities under the new registration statement, it will prepare and make available a prospectus supplement that includes the specific terms of the securities being offered.
The net proceeds from the sale of any securities offered by Teva will be used for general corporate purposes, including for its pending acquisition of Sicor Inc. and other possible future acquisitions.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among the top 30 pharmaceutical companies and among the largest generic pharmaceutical companies in the world. Close to 90% of Teva's sales are in North America and Europe. The company develops, manufactures and markets generic and innovative human pharmaceuticals and active pharmaceutical ingredients.
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.
Company Contacts:Dan Suesskind
Chief Financial Officer
Teva Pharmaceutical Industries Ltd.
President and CEO
Teva North America
Director, Investor Relations
Teva Pharmaceutical Industries Ltd.