Teva Announces New Global Brand, Plans to Divest $1 Billion in Assets

Feb 24, 2016

Teva, Reuters

Teva Pharmaceutical Industries Ltd. announced a new, strategic corporate identity program to build its global brand. The world’s leading producer of medicines said it is building on its strong global footprint, size and scale, to reinforce its focus on making these medicines more accessible. 

According to a press release, this next phase of Teva’s evolution is signaled by the adoption of a new brand, which is being introduced and embedded within the company over the next 12 months. The brand embodies a new promise, vision and identity for Teva and will bring to life the purpose and values the company has instilled in its employees.

Teva plans to introduce the new brand to its 43,000 employees around the world prior to launching the brand externally.

IN OTHER COMPANY NEWS, Teva offered to divest assets worth about $1 billion in the U.S., Europe and Middle East to resolve antitrust issues in the EU related to its $40.5 billion deal for Allergan's generics business, according to a Reuters article.

The EU competition enforcer will likely request feedback from third parties before deciding whether to accept the proposal, request changes or open an investigation that could last several months, the story said.

Regulators are expected to make a decision on the proposal by March 10.

Read the full Reuters story

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