**2.1 Company's values**

With a mission to be a global leader in generics and biopharmaceutical, improving the lives of patients worldwide, Teva's core values were centred on corporate

*Teva Pharmaceutical: Generic Market Access to Global Healthcare Industry DOI: http://dx.doi.org/10.5772/intechopen.97747*

responsibility and transparency. During its initial successful decades, Teva consciously stressed a culture of employee satisfaction, and its message was that of a consumer brand to be trusted.

Teva emphasized the importance of drug safety, collaborations, health initiatives, and innovative research. The company had committed to various socioeconomic initiatives, including donations, human rights, diversity, inclusion, occupational health, and safety, as well as the environment and pharmaceutical drugs [3].

#### **2.2 History**

The Teva production plant was established in Jerusalem on May 1, 1935, located in the neighborhood of Bayit Vegan. The factory was built with an investment of 4,900 pounds sterling, partially from the family endowment and partially from loans made by German immigrants. The immigrants wanted to support fellow German, Günther Friedlander, who was a pharmacist and botanist.

Banker Dr. Alfred Feuchtwanger became a partner in Teva when he funded a credit shortage in the company. He held a 33% share of Teva. In 1951, Dr. Feuchtwanger initiated Teva's initial public offering and entrance into the Tel Aviv Stock Exchange as a publicly listed and traded company.

During World War II, the factory supplied medicines to the Allied forces, in particular, to the British army in the Middle East. Sir Alan Gordon Cunningham, Colonial Minister and head of the British Mandate, visited the factory on behalf of the Secretary of State for the Colonies. His visit to the Teva factory significantly jumpstarted its reputation in the pharmaceutical industry.

In 1959, the pharmaceutical branch of the Israeli Manufacturer's Association conducted a survey among Israeli pharmaceutical companies, and the Teva plant in Jerusalem was ranked first. The results of the survey showed that the market approved of and supported Teva products, many of which were developed by Dr. Friedlander and the factory staff. The workers felt appreciated for their initiative and ideas. They took pride in their work and performed their tasks with strict execution.

In 1971, the Teva plant moved from Bayit Vegan to the industrial park in Har Hozvim. It was the first scientific factory that was established in Kiryat Atirot. Teva has expanded its operations over the years. For instance, in 1982, Teva received F.D.A. approval for its Kfar Saba plant in central Israel, which allowed it to market its generic drugs in the United States. The factories of Teva enabled the business to transform into a powerhouse drug maker. In 2019, the Kfar Saba plant of Teva received an F.D.A. approval stamp for the manufacturing of migraine drugs [4].

#### **2.3 The company's main products**

Regarding the commercialized products, the drugs produced by Teva can be used for migraines, pain management, cancer, and supportive care, and respiratory disorders. Some of the common generic drugs of the company are Alvimopan Capsules, Brinzolamide Ophthalmic Suspension, Colchicine Tablets, U.S.P., Dimethyl Fumarate Delayed-Release Capsules, Efavirenz, Emtricitabine, and Tenofovir Disoproxil Fumarate Tablets, etc. [5].

The company expanded into the treatment of a wide variety of disease types while simultaneously developing generic drugs. The goal was to provide faster and better solutions for patients battling various diseases. From a business perspective, Teva's strategy was to increase drug production to generate higher revenue.

In the mid-1990s, Teva introduced a novel drug called COPAXONE®, to treat multiple sclerosis. The drug was developed by a team of researchers at the Weizmann Institute of Science and was considered the world's best treatment against the condition. COPAXONE® received the United States Food and Drug Authority (F.D.A.) approval in 1996 and was regarded as one of the greatest achievements of Israel's scientific efforts.

This invention transformed Teva from a company that produced generic drugs to one that produced novel treatments. Since 2015, COPAXONE® was marketed to more than 50 countries worldwide. Teva's revenue from worldwide drug sales reached \$4.2 billion, roughly 21% of the company's total revenue.

Another novel drug produced by Teva called Azilect was intended to treat Parkinson's disease. Teva launched the drug in Israel in 2005. A year later, the drug was launched and marketed in the United States. Teva discovered that Azilect was the only drug in the world that could treat the symptoms of Parkinson's disease and delay the physical deterioration due to the disease. Azilect has been sold in more than 45 countries around the world. In 2010, sales revenue for Azilect was \$318 million.

At the end of 2016, Teva's novel drug portfolio was worth hundreds of millions of dollars. Considerable investments in R&D were critical to developing new novel drugs and maintaining Teva's current portfolio of novel drugs.

Patent protection has been an important tool for Teva to safeguard its innovation as well as to recoup the R&D invests in drug development. Various companies had tried to launch drugs in order to compete with COPAXONE®. In June 2015, the U.S. Federal Court of Appeals ruled that Teva's patent of its 20 mg dose of COPAXONE® was expired.

Teva's losses continued in 2017, as the U.S. Patent Commission in the Delaware District Court filed a motion to revoke the exclusivity of the patent from Teva that had accrued them \$49 billion in revenue. This caused the company's stock to decline about 50 percent in 12 months' time. Additionally, the Federal Court of Appeals filed a request to cancel the validity of one of the company's patents for the lung cancer drug Alimta that earned the company \$1.1 billion in 2016.

Teva had been looking at introducing a novel migraine drug to be a replacement of sorts for COPAXONE®. This new drug hoped to treat various iterations of migraines. Teva has introduced AJOVY, which is a pre-filled injection for the prophylaxis of migraines in adults. It received a nod from European Medicines Agency's Committee for Medicinal Products for Human Use in 2019 [6]. Despite patent challenges in the United States, in December 2015, the European Patent Office approved Teva's patent for the 40 mg dose of COPAXONE® until 2030.
