Teva invests NIS 22m in R&D center at Teva-Tech plant in the Negev

Teva invests NIS 22m in R&D center at Teva-Tech
Globes - April 20, 2005
Gadi Golan

Teva plans to invest tens of millions of dollars per year in the Teva-Tech plant in the Negev in the coming years, and recruit hundreds of workers.

Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has invested NIS 22 million in a new R&D center in the Teva-Tech plant, located in the Ramat Hovav industrial zone in the Negev. At an inaugural ceremony today for the center, Teva president and CEO Israel Makov said that the company planned to invest tens of millions of dollars per year in the plant in the coming years. He added that the company would hire hundreds of new employees in the coming years, at the rate of 100 employees per year, while expanding its production in the Negev.

The R&D center in Ramat Hovav will employ 80 researchers, of whom 30 have already been hired. The researchers, mostly chemists and chemical engineers, are all Negev residents. Most of them are new immigrants from the former Soviet Union. Training them in Teva’s chemical division’s R&D laboratories took over a year. The expansion of the Teva-Tech plant and the beginning of development of new products have made a new R&D center necessary, as part of Teva’s largest production facility in Israel.

The new 1,500-sq.m. R&D center will deal with R&D in processes for producing active pharmaceutical ingredients (APIs) used in drug manufacturing. The center has advanced laboratories designed for chemical and analytic research. Makov said that as part of the center’s activity, cooperation between Teva-Tech and Ben Gurion University of the Negev, known for its excellence in chemistry and chemical engineering, would be expanded.

Founded in 1995, the Teva-Tech plant produces raw materials used in drug manufacturing. To date, $150 million has been invested in the plant, which employs 400 workers.