Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV), the world's
largest generic-drug maker, said it is restarting generic
animal-vaccine production at a Missouri plant, after work was shut
down there in 2009.
The Food and Drug Administration ordered operations there to
stop several years ago, saying the plant failed to comply with
manufacturing regulations involving quality control, employee
training and manufacturing practices.
Teva said it spent about $14 million as part of its compliance
work, which now is winding down. The plant should resume work in
the first quarter of the year.
Israel-based Teva manufactures animal vaccines through its
subsidiary, Teva Animal Health Inc.
In November, Teva said its third-quarter profit fell as a sharp
decline in its U.S. generic-drug sales weighed down overall revenue
growth.
Shares closed Tuesday at $43.10 and were inactive premarket. The
stock is up 20% in the past three months.
-By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com;