Teva Announces Sale of Sellersville, PA Facility
Jerusalem, March 2, 2015— Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) today announced
that it has signed an agreement to sell its Sellersville, Pennsylvania facility to G&W
Laboratories, Inc. This sale supports its plans to streamline operations by reducing excess
manufacturing capacity and is part of the Company’s previously announced cost reduction program.
The sale includes all buildings, land, and equipment located at the site. Under the terms of the
agreement, G&W will manufacture and supply products to Teva from the site until production of these
products is transferred to other sites in Teva’s network. Additionally, G&W will offer employment
to all employees located at Sellersville.
The transaction includes the sale to G&W of approximately 25 products from the Teva portfolio,
which will be manufactured and sold by G&W in the U.S. under the G&W label. Further, the
transaction includes the grant to G&W of exclusive rights to sell up to two additional Teva
products in the U.S. under G&W’s label, which Teva will continue to manufacture at its Zagreb,
Croatia facility. The transaction is expected to close in March or April 2015, after the
appropriate regulatory review and the satisfaction of certain closing conditions.
“Teva is managing its operations to create greater efficiencies and position the company for
long-term growth and success. We have a qualified and dedicated team at Sellersville and are
pleased that we were able to come to an agreement with G&W Laboratories that will enable them to
continue working in their current community,” stated Carlo de Notaristefani, President and CEO of
Teva Global Operations.
“G&W is pleased to have reached an agreement with Teva to acquire the Sellersville facility;
obtain rights to more than 25 products; and employ a highly dedicated and experienced work force.
Under the agreement, G&W will provide a number of products to Teva that will continue to be
manufactured at the acquired site. The acquisition of the Sellersville facility and products
strengthens our long-term relationship with Teva, and fits with our strategy of acquiring platforms
from which we can grow the business and expand our product and dosage offering,” stated Dr. Aaron
Greenblatt, Executive Vice President and Chief Commercial Officer of G&W Laboratories, Inc.
The Sellersville site currently produces generic drugs with a portfolio of more than 50 products
manufactured as solid dose forms (tablets and capsules), liquids, creams and ointments.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a leading global pharmaceutical
company that delivers high-quality, patient-centric healthcare solutions to millions of patients
every day. Headquartered in Israel, Teva is the world’s largest generic medicines producer,
leveraging its portfolio of more than 1,000 molecules to produce a wide range of generic products
in nearly every therapeutic area. In specialty medicines, Teva has a world-leading position in
innovative treatments for disorders of the central nervous system, including pain, as well as a
strong portfolio of respiratory products. Teva integrates its generics and specialty capabilities
in its global research and development division to create new ways of addressing unmet patient
needs by combining drug development capabilities with devices, services and technologies. Teva’s
net revenues in 2014 amounted to $20.3 billion. For more information, visit
www.tevapharm.com.
About G&W
G& W Laboratories, Inc., based in South Plainfield, NJ, is a family owned business which was
founded in 1919 by Carl Greenblatt, after his return from military service as a pharmacist with US
forces in WWI. Later his son Burton joined him in 1945, also a pharmacist who served in WWII. G&W
established a reputation as an innovative specialist in suppository, cream, ointment, gel, and
liquid dosage forms. Carl’s grandson, Ron, is the current Chief Executive Officer, and Carl’s
great-grandson, Aaron, is the Chief Commercial Officer. Together with their senior leadership team
headed by G&W’s President, Kurt Orlofski, they lead G&W Laboratories with an uncompromising
commitment to product integrity and customer service while adhering to their core values.
Teva’s Safe Harbor Statement under the U. S. Private Securities Litigation Reform Act of 1995:
This release contains forward-looking statements, which are based on management’s current beliefs
and expectations and involve a number of known and unknown risks and uncertainties that could cause
our 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 risks relating to: our ability
to develop and commercialize additional pharmaceutical products; competition for our innovative
products, especially Copaxone® (including competition from orally-administered
alternatives, as well as from potential purported generic equivalents) and our ability to migrate
users to our new 40 mg/mL version; the possibility of material fines, penalties and other sanctions
and other adverse consequences arising out of our ongoing FCPA investigations and related matters;
our ability to achieve expected results from the research and development efforts invested in our
pipeline of specialty and other products; our ability to reduce operating expenses to the extent
and during the timeframe intended by our cost reduction program; our ability to identify and
successfully bid for suitable acquisition targets or licensing opportunities, or to consummate and
integrate acquisitions; the extent to which any manufacturing or quality control problems damage
our reputation for quality production and require costly remediation; increased government scrutiny
in both the U.S. and Europe of our patent settlement agreements; our exposure to currency
fluctuations and restrictions as well as credit risks; the effectiveness of our patents,
confidentiality agreements and other measures to protect the intellectual property rights of our
specialty medicines; the effects of reforms in healthcare regulation and pharmaceutical pricing,
reimbursement and coverage; governmental investigations into sales and marketing practices,
particularly for our specialty pharmaceutical products; adverse effects of political or economic
instability, major hostilities or acts of terrorism on our significant worldwide operations;
interruptions in our supply chain or problems with internal or third-party information technology
systems that adversely affect our complex manufacturing processes; significant disruptions of our
information technology systems or breaches of our data security; competition for our generic
products, both from other pharmaceutical companies and as a result of increased governmental
pricing pressures; competition for our specialty pharmaceutical businesses from companies with
greater resources and capabilities; the impact of continuing consolidation of our distributors and
customers; decreased opportunities to obtain U.S. market exclusivity for significant new generic
products; potential liability in the U.S., Europe and other markets for sales of generic products
prior to a final resolution of outstanding patent litigation; our potential exposure to product
liability claims that are not covered by insurance; any failure to recruit or retain key personnel,
or to attract additional executive and managerial talent; any failures to comply with complex
Medicare and Medicaid reporting and payment obligations; significant impairment charges relating to
intangible assets, goodwill and property, plant and equipment; the effects of increased leverage
and our resulting reliance on access to the capital markets; potentially significant increases in
tax liabilities; the effect on our overall effective tax rate of the termination or expiration of
governmental programs or tax benefits, or of a change in our business; variations in patent laws
that may adversely affect our ability to manufacture our products in the most efficient manner;
environmental risks; and other factors that are discussed in our Annual Report on Form 20-F for the
year ended December 31, 2014 and in our other filings with the U.S. Securities and Exchange
Commission. Forward-looking statements speak only as of the date on which they are made and we
assume no obligation to update or revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
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