2024-08-22 11:06:31
The Ambassador of the State of Israel to Bulgaria, H.E. Yossi Levi Sfari, together with the mayor of Dupnitsa, Mr. Parvan Dangov, visited the Teva plant in Dupnitsa, which is celebrating its 70th anniversary this year.
They got acquainted with the economic significance of the company for Bulgaria; innovative practices in the production process, with the company’s active commitment to environmental protection and its special programs and practices in corporate social responsibility, as well as with the challenges facing the pharmaceutical industry. Together with the director of the plant in Dupnitsa, Mr. Robert Kuzhela, and Mr. Nikolay Hadjidonchev, executive director of Teva’s commercial divisions in Bulgaria and Greece, they inspected the new production capacity of the plant, which represents an investment of 42 million US dollars. With the new production capacity, the Teva plant will increase its production capacity and create new jobs for the city of Dupnitsa and the region.
The plant in Dupnitsa is equipped with state-of-the-art technologies that guarantee the production of high-quality medicines that reach more than 60 markets around the world. By introducing Israeli know-how and promoting a culture of innovation, Teva places Bulgaria in one of the leading places in pharmaceutical production within the European Union. Teva, as a leading Israeli pharmaceutical company with a global presence, successfully transfers Israel’s experience and expertise to Bulgaria, creating conditions for the development of innovative production processes and strengthening the country’s technological capacity.
During his first visit to Dupnitsa, Ambassador Yossi Levi Sfari emphasized that thanks to the investments through Teva’s two high-tech production facilities in Dupnitsa and Troyan, as well as through the trading company and the corporate business center in Sofia, the pharmaceutical company contributes significantly to the economic development of the country by providing nearly 2,000 jobs, providing stable employment opportunities for the local population.
Ambassador Safari noted that Teva is a leading Israeli pharmaceutical company with a global presence that successfully transfers Israel’s experience and expertise to Bulgaria, creating conditions for the development of innovative production processes and strengthening the country’s technological capacity.
The successful model of Teva in Bulgaria is proof of the strong economic and business relations between Israel and Bulgaria, which continue to develop in various sectors of the economy, Ambassador Safari added.
The Israeli pharmaceutical giant Teva Pharmaceuticals continues to invest in the economic development of Bulgaria and the region. In Bulgaria, Teva is the largest pharmaceutical producer; the largest employer in this industry; with the richest product portfolio covering socially significant diseases.
Teva is a key factor in the Bulgarian and regional pharmaceutical industry with significant investments and economic contribution. Teva Bulgaria has a direct contribution of USD 40 million to the national GDP and supports the Bulgarian economy with an additional USD 64 million based on indirect and induced economic effects. As the leading generic drug company in Bulgaria, Teva’s generics have saved the Bulgarian healthcare system approximately USD 15.3 million in 2023. These savings are achieved by offering 55 different forms of pharmaceutical products at a lower price to patients from the corresponding original price, thereby creating financial space for investment in new therapeutic approaches and meeting unmet medical needs. Teva’s activity in Bulgaria not only improves the country’s healthcare system, but also stimulates significant economic growth and innovation.
The company is the leader of the pharmaceutical market in Israel, one of the world’s largest generic companies and among the leaders of the Bulgarian pharmaceutical market. Every day, Teva provides medicines to around 200 million people around the world. With one of the most competitive manufacturing networks in the industry, Teva manufactures 1,800 unique molecules and offers a portfolio of 3,500 products, including generics, biopharmaceuticals, specialty medicines and over-the-counter products.