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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?

The Hebrew University of Jerusalem ranks number one in Israel in academic excellence and is in the top 100 of the world’s universities. It is also rated on the top ten best places to work in Academia outside the US and ranks sixty three worldwide in biomedicine.
Jerusalem has a rich Nobel heritage: Six Nobel laureates graduated from or are faculty of the Hebrew University of Jerusalem and Hadassah Medical Organization was nominated for a Nobel peace prize in 2005.