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Teva Pharmaceutical Industries Limited (TEVA) Nixes Plans for $300 Million Distribution Center


12/18/2012 8:12:18 AM

Teva Pharmaceuticals said Monday night it has decided to cease development plans for its proposed $300 million distribution center in Northeast Philadelphia,“At this time we cannot elaborate further about plans for this property,” the company said in a prepared statement. Teva (NYSE:TEVA) said it will continue to make the improvements it already committed to along Red Lion Road. Those improvements are scheduled to be completed in the spring.The generic and branded pharmaceutical company also said it “remains committed to maintaining the property and working with local government.”


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