Teva’s Jerusalem factory is shown in 2013. (Menahem Kahana/AFP/Getty Images)

Teva’s Freefall: Any Chance for a Soft Landing? (AUDIO INTERVIEW)

Teva Pharmaceuticals, one of Israel’s largest companies and one of the world’s largest drug manufacturers, is in something of a freefall, its share prices at a 20-year-low.

Teva was always considered a blue chip stock in Israel, a company that could be relied on for solid returns, growth and steady employment by seeking out medications whose patents were about to expire and turning them into less expensive generic drugs that sold well around the world. It also introduced several highly successful patented pharmaceuticals that accounted for a large amount of its income.

But these patents have expired or are about to, and, just as bad, Teva is facing lawsuits in the United States with regard to alleged price fixing and, to a lesser extent, peripheral involvement in the manufacture of opioids.

One analyst, Dr. Alex Coman, a technology and economics specialist at the Adelson School of Entrepreneurship at Israel’s Interdisciplinary Center Herzliya, believes a lot of the company’s woes can be blamed on excessive self-confidence, and as he says in the interview that follows, “there is no medicine for acute hubris.”

Editor’s note: Teva’s Copaxone was a medication used by people with multiple sclerosis, and not Parkinson’s disease, as was mistakenly implied in one of the questions.

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