Teva unable to find buyer, closes Israel plant

Teva's Ashdod plant will lose half of its 175 workers in the coming months, with the rest staying on until the plant closes. The drugmaker was attempting to sell the plant in recent months but was unable to find a suitable buyer.

Teva said that the production of IV bags that accounts for half the plant’s activity was not profitable.

In December, Teva announced 14,000 job cuts with the closure of a number of plants meant to pay its debts.

Read the Reuters report