Israel's Teva Pharmaceutical Demonstrates Resilience and Growth Amidst Challenges
Teva Pharmaceutical's impressive growth amidst challenges in Israel. Learn how they continue to thrive in the pharmaceutical industry.
Teva Pharmaceutical Industries Ltd., a big company in Israel, has some good news. They expect to make more money this year, even with the troubles caused by the war with Hamas.
Teva makes a lot of different medicines, and they are one of the biggest in the world that make generic ones. Now, they think they will make between $15.1 billion and $15.5 billion this year. That's more than what they thought three months ago, which was between $15 billion and $15.4 billion. They are doing well with both their special brand-name medicines and the regular ones.
The head of Teva, Richard Francis, said that the war with Hamas that started on October 7 didn't cause big problems for their medicine-making. He also mentioned that most of their production doesn't happen in Israel, but in other places. Only a small part of their sales come from Israel, about 2% of all the money they make around the world.
Teva's stocks in the United States went up by 3.8% at 9:52 a.m. in New York. This means that more people wanted to buy Teva's stocks, which is good news for the company. This shows that even with some challenges, Teva is still doing well.