Teva Pharmaceutical Industries, Ltd. (Teva) began as a small wholesale drug business in Jerusalem in 1901. Today, Teva is one of the top 20 pharmaceutical companies and generic pharmaceutical companies in the world. As Teva continues to be a strong competitor in the pharmaceutical drug industry, they have had their share of competitive strategies to overcome as well.
Teva is a global company which specializes in the development, production and marketing of generic branded pharmaceuticals (Tevapharm.com, 2009). In researching details international location and operates carefully through a specific network worldwide. Teva is headquartered in Israel with the greater number of sales coming from North America and Europe. With a large number of employees numbering at 38,000 worldwide, production facilities are located in Israel, North America, Europe and Latin America.
As a successful global pharmaceutical company with expected net sales of nearly $15 billion in 2009, Teva has survived many trying times throughout their operations. One of Tevaâ€™s founders, Eli Hurvitz, was an inspiring leader. He had a vision and plan for the company which clearly took time and a lot of effort.
Teva has a strong core value system based on leadership, strategic discipline, operational excellence and an openness to change. One of the strongest core values that I found to be important is â€œencouraging directness and open communication channelsâ€ (Tevapharm.com, 2009). A successful company can not exist without the openness and communication all across the board. Communication is key.
Taking risks, Hurvitz wanted to explore other options to further develop Teva and become a global company. Joint-owner, Koor Industries, was not on the same wave length in seeking global possibilities. Once Hurvitz convinced Koor Industries of the opportunity, Teva began expanding through acquisitions and mergers. By taking on many competitors, Teva grew to be the successful company that...