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Teva Pharmaceutical Industries Limited (TEVA) to Shut Down Pennsylvania Facility, Cutting Hundreds of Jobs


5/2/2013 11:20:53 AM

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With net income down 26.7 percent for the first quarter of this year, Teva Pharmaceutical Industries, Ltd., announced Thursday morning that it will close its manufacturing and research facility in Sellersville, Bucks County, by 2017. Teva is based in Israel, but its Americas headquarters is in North Wales, Montgomery County. According to Teva's 2012 annual report filed with the U.S. Securities and Exchange Commission, the Sellersville facility had 472 employees as of the end of 2012. The SEC filing says that some research and development work is also conducted at the Sellersville plant. The company owns the facility and it covers 206,000 square feet, according to the SEC filing.

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