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FDA approves Teva's Jerusalem facility

Sep. 13, 2011
Source: Globes

The US Food and Drug Administration (FDA) has approved Teva Pharmaceutical Industries Ltd's (Nasdaq: TEVA; TASE: TEVA) Oral Solid Dosage (OSD) manufacturing facility in Jerusalem.Teva has received a closeout letter from the US Food and Drug Administration (FDA) stating that the company has addressed the issues raised by the FDA in a warning letter in January.

In the January inspection of the facility, the FDA raised questions about its current Good Manufacturing Practices (cGMP). The FDA found no adverse finding in a new inspection of the facility in June.

Teva's share price fell 1.5% on Nasdaq yesterday to $37.92, giving a market cap of $33.8 billion, and rose 0.6% at the opening on the TASE today to NIS 140. 

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Did You Know?

  • There are 130 life sciences companies in Jerusalem employing more than 3000 people.

  • Jerusalem's life sciences companies are largely focused on development of therapeutics in the fields of oncology, immune-related diseases, neurodegenerative disorders, cardiovascular, infectious diseases and orthopedics.