teva logo 88.
(photo credit: )
Teva Pharmaceuticals Ltd., the world's largest manufacturer of generic drugs, said Wednesday it will hire 200 new workers for its Jerusalem factory to producing some 8 billion pills a year worth $700 million.
The factory, based in Har Hotzvim, Jerusalem's industrial area, has been in operation for about three years and will now be able to manufacture pills to be sold in both the Israeli and US markets after recently receiving approval from the US Food and Drug Administration.
"With this approval from the FDA, we will be able to expand our operations and our exports as well as create new jobs in Jerusalem - something which is very important to the company," said Teva's CEO Shlomo Yannai.
Over the remainder of 2007, the company expects to produce about 4 billion tablets and plans on doubling this number next year.
The factory is one of 38 that Teva has around the world; its construction cost $100m.