Teva Pharmaceuticals

Executive Summary

Teva pharmaceutical is a renowned leading pharmaceutical company in the world. It was established in 1901 and is located in Petah Tiqva Israel. 

It main focus is the development, production and marketing of generic branded pharmaceuticals and also the pharmaceutical ingredients. This company is among the top twenty pharmaceutical companies in the world and in the generic sector, it is among the top.

The company has also had its share of cases in the lawsuits and currently there are much litigation filed by different people and organizations following their product issues and liabilities.

-The Valsartan lawsuits are still pending although some have been settled but others are ongoing litigations. These cases came about when the valsartan drugs which were used by patients before the recall and resulted to many reactions and consequences which made this people and organization plus the state to file lawsuits to follow up this matter. Up to now some cases are ongoing and have not been concluded.

History of Teva Pharmaceuticals

Teva pharmaceuticals began as a very small drug business which was focused in making the medicines to be more available close to the patients and homes plus hospitals. This slowly built up to a manufacturing plant and during the time of World War 2, it became the sole supplier of medical drugs to the whole country, the neighboring and even the British army that was based in the Middle East.

The company then grew expanding its territories in and out of Israel making it among the best pharmaceutical companies in the world up to date.

Subsidiaries of Teva Pharmaceuticals

1. Actavis pharmaceuticals 

This is a global generic company which is focused in acquiring, developing, manufacturing and finally marketing of branded pharmaceuticals both over the counter and generic medicinal products. 

In May 2017, Teva pharmaceuticals acquired Actavis pharmaceuticals at a cost of $40 billion. The company is located in New Jersey United States.

The major areas of Actavis pharmaceuticals include; the eye care, medical aesthetics, central nervous system and gastroenterology.

The company itself is a long sequence of mergers and acquisitions.

1. Cephalon Inc

This company was established in 1987 and it is located in Pennsylvania, United States. In May 2011, Teva pharmaceuticals acquired Cephalon at a cost of $6.8 Billion and it became a whole subsidiary of Teva Pharma.

This company mainly focuses on therapies for cancer, inflammatory diseases and the central nervous system. It is dedicated to improving the lives of many people including patients all over the world through its developments and innovation in the medical industry.

1. Pliva

This is another subsidiary of Teva pharmaceuticals which is located in Zagreb, Croatia. It manufactures, and distributes generic drugs. It was established in 1921.

It is one of the largest pharmaceutical companies in Croatia. It was acquired at a cost of $2.2 billion in June 2006.

1. Mepha Pharma

It is an innovative pharmaceutical company which mainly focuses on developing, manufacturing and distributing branded and non branded generic products. It was established in 1949 and is based in Basel Switzerland. 

The company has done tremendous innovations in developing generics through new formulations or by using the drug delivery technology. Through this, it has provided very many additional benefits for the patients and the healthcare professionals.

The company was acquired in April 2010 by the Teva pharmaceutical company subsidiary Cephalon at a cost of $615 million.

1. Anda Inc

Anda Inc was established in 1992 and is located in Weston, Florida, United States. It is a wholesale distributor of pharmaceutical products in the US. It distributes generic products, vaccines, medical/surgical supplies, injectables and other products to pharmacies, hospitals and homes in the United States.

In August 2016, Teva pharmaceuticals acquired Anda Inc at a cost of $500 million deal. This made Anda Inc to be a whole subsidiary of Teva pharmaceuticals.

Popular Products of Teva Pharmaceuticals

1. Prexxartan

Its generic name is called Valsartan. It the product produced by Teva pharmaceuticals, which is available in the dosage of tablets. It is also a cardiovascular agent under the therapeutic category or class.

Prexxartan is used alone or with other medicines to treat high blood pressure commonly called hypertension. High blood pressure in most cases when in the body tends to overwork the heart and the arteries so much. This if prolonged may cause the arteries and the heart not functioning properly. It also leads to stroke.

It is also used to treat heart failure in case of heart attack.  This medicine will not cure high blood pressure but will control it. Take as prescribed by the doctor.

1. EpiPen

Its generic name is Epinephrine Injection. This is a product under Teva pharmaceuticals and it is an injection which contains Epinephrine. Epinephrine on the other hand is the chemical whose work is to narrow blood vessels and widely opens airways in the lungs. This reduces much the risk of getting stroke through the high blood pressure.

EpiPen is used to treat severe allergic reactions commonly called Anaphylaxis to insect stings, food and other allergens. It is also used to treat exercise induced anaphylaxis.

This product mainly focuses on controlling the main effects of high blood pressure like stroke being the main one. It is used in adults and for children only those that have attained the weight of 7.5kg and above.

1. Actiq

This produced by Teva pharmaceuticals and its generic name is Fentanyl. It is used to treat breakthrough pain patients who are tolerant to opioids. It is mainly used in adults and not children because it has not been established. But for the children who are 16 years, use the lowest effective doses and for the shortest duration possible.

Its effects are life threatening respiratory depression, abuse and misuse and addiction can be very fatal. Also accidental exposure may lead to overdose.

Always use as per the doctors’ prescriptions to avoid over or under dosing.

1. Zanosar

This products’ generic name is Streptozocin which is also produced by Teva pharmaceuticals. It is used to treat pancreatic, endocrine and thyroid cancers in adults and not at all recommended for children.

It has some reactions which may be fatal and not friendly to the body. It may have renal dysfunction or the disease itself and not at all recommended for pregnant or nursing mother and children also. It should be administered strictly according to the prescription of the doctor to avoid over and under dosing.

1. Trisenox Rx

Its generic name is called Arsenic trioxide. It is used to treat lymphomas, leukemia and other hematologic cancers. It is used in the diagnosis of adults and for children it is not yet established.

It has a risk of life threatening or fatal differentiation syndrome and has also the risk of cardiac conduction abnormalities. It is supplied in single dose vials and should be used or taken as prescribed by the doctor. Its reaction signs include; fever, fatigue, cough, itching, rash and headache.

1. Qvar Redihaler Rx

Its generic name is called Beclomethasone HFA. This product is used as maintenance treatment of Asthma done as prophylactic therapy. It is highly limited to the relief of acute bronchospasm and should not be used for that case at all.

It is used for both adults and children but for children is supposed to be from the age of 4 years and above and not administered to children under the age of 4 years.

Do not exceed the recommended dosing which might lead to some local infections.

Product Recalls and Lawsuits

1. Prexxartan (Valsartan) Product Recall 2018

In November 2018, Teva pharmaceuticals made a voluntary recall of prexxartan product, a combination of blood pressure drug. This recall was done mainly in the United States due to the detection of a cancer causing impurity. 

Due to adverse reactions of the patients involved mainly from the United States which was the most affected, many lawsuits were filed for the same which are ongoing. This is because many patients who took this drug are suffering medicals consequences and others are at a very high risk of getting cancer.

Litigation Settlements

1. $135 Million Litigation Settlement over Fraud

In January 2019, Teva pharmaceuticals settled and paid $135 million to settle a lawsuit which was filed earlier by attorney general in the year 2005 in Illinois accusing it with other 46 pharmaceutical firms of inflating fraudulently wholesale prices of drugs which are used to calculate or formulate Medicare reimbursement rates.

Sources:

https://www.empr.com/manufacture/teva-pharmaceuticals/

https://www.drugs.com/epipen-auto-injector.html

https://www.tevapharm.com/about/history/

https://www.crunchbase.com/organization/teva-pharmaceutical-industries