Teva Formalises North America Headquarters Move with Ceremony in Israel
23 October 2018 - - Israeli generics company Teva Pharmaceuticals has formalised Teva's commitment to consolidate its North America Commercial business areas into New Jersey at the company's global headquarters in Petach Tikva, Israel, the company said.

Announced earlier this year as part of a global restructuring process, Teva will establish its North America headquarters in Parsippany-Troy Hills, including more than 1,000 high-wage jobs and the transfer and creation of more than 800 positions.

Teva accepted an offer of 10-year, USD 40m tax savings incentives from the NJ Economic Development Authority to move forward with its plan to negotiate a lease for office space in the Parsippany-Troy Hills area.

This ceremony marks another step forward in Teva's global restructuring efforts to drive savings, restore financial security and stabilize its business.

Reducing the number of sites is part of Teva's strategy to unify and simplify the organisation, as well as improve productivity and efficiencies.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) (TASE: TEVA) is in generic medicines, with innovative treatments in select areas, including CNS, pain and respiratory.