Teva to negotiate incentives

30 April 2001 00:00  [Source: ICB]

Teva Pharmaceuticals is negotiating with the Israeli government on the investment incentives it would receive for constructing additional manufacturing facilities in Israel for new pharmaceutical products. The planned investment would amount to tens of millions of dollars.

Talks between Teva and the government are focusing on whether the new plant would be an expansion of existing facilities or an independent project.

Teva's senior officials say that they are confident that the investment would be confirmed, which would imply receiving grants rather than tax benefits. Teva's revenue totalled $1.75bn last year, a 36% gain over 1999. It spent $80m on R&D during the second half of 2000.

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