HistoryIn 1901, Chaim Solomon, Moshe Levin and Yitschak Elsteinfounded a small wholesale drug business in the holy city of Jerusalem. Hence,the business name; Salomon, Levin, and Elstein Ltd (S.
L.E). The company changedits name to Assia. Their business was growing as they provided pharmaceuticalneeds to the British soldiers in Middle East.
During the 1930s, new immigrants from Europe came to Israeland some founded pharmaceutical companies, which are Teva and Zori. In 1951,Teva issued a public offering in Tel-Aviv Stock Exchange, listed as TASE (TelAviv Stock Exchange) as the Teva Middle East Pharmaceutical Chemical WorksCompany Ltd.As time went by, Assia and Zori merged together and boughtTeva marking a new chapter of the company history. Soon an important figure ofthe pharmaceutical business; Eli Hurvitz took over as CEO in 1976. Heconsolidated these three companies into the modern Teva PharmaceuticalIndustries Ltd and becoming the president and CEO of Teva for the next 25 yearsuntil his death in 2011.
In the 1980, Teva acquired Ikapharm, Israel second biggestdrug company and 50% shares of chemical manufacturer Plantex Ltd. from KoorIndustries.With the market share in Middle East and Europe, Teva wantedto find opportunities. They took a bold risk to expand to US by purchasing Lemmon Pharmacal Company with the cooperation of W.R. Gracein 1985, creating Teva Pharmaceuticals USA.
Finally, they bought all the sharesof W.R Grace and have full control of the subsidiaries in 1992. In 1999, Teva strengthens its position in the US byacquiring Copley Pharmaceutical Inc.At the beginning of millennia, the company bought a Canadapharmaceutical company Novopharm.Through many acquisition of pharmaceutical company incountries like Germany, Italy, Japan, Switzerland and Turkey, Teva developeditself to become as one of the biggest pharmaceutical company in the world.