The Israeli pharmaceutical giant Teva must pay over $520 million following corruption charges

Israeli drug firm fined for bribing officials in Russia, Ukraine & Mexico

A building belonging to generic drug producer Teva, Israel’s largest company with a market value of about $57 billion, is seen in Jerusalem. © Baz Ratner / Reuters

The Israeli pharmaceutical giant Teva must pay over $520 million following corruption charges made by the US Department of Justice (DOJ). The company breached the Foreign Corrupt Practices Act (FCPA) by bribing officials in Russia, Ukraine and Mexico.

Teva is the world’s largest manufacturer of generic pharmaceutical products. According to the DOJ, its fully-owned subsidiary Teva LLC (Teva Russia) bribed a top Russian official to increase sales of the multiple sclerosis drug, Copaxone, during drug purchase auctions held by the Russian Ministry of Health.

Between 2010 and at least 2012, Teva earned an extra $200 million from Copaxone sales in Russia. The Russian official allegedly received $65 million through inflated profit margins. His name and department were not disclosed.

Overall, Teva will pay $520 million which includes the US criminal and regulatory penalties for its illegal activity in Russia, Ukraine and Mexico.

In Ukraine, Teva hired a senior government official in the Ministry of Health as “registration consultant.” Between 2010 and 2011, the Israeli company paid him a monthly fee and covered his expenses, amounting to $200,000. In Mexico, Teva bribed doctors to prescribe Copaxone from at least 2005.

“Teva and its subsidiaries paid millions of dollars in bribes to government officials in various countries, and intentionally failed to implement a system of internal controls that would prevent bribery,” said Assistant Attorney General Caldwell.

“Companies that compete fairly, ethically and honestly deserve a level playing field, and we will continue to prosecute those who undermine that goal,” Caldwell added.

“As demonstrated by this case, the Foreign Corrupt Practices Act has a long reach. Teva’s egregious attempt to enrich themselves failed and they will now pay a tough penalty,” said William J. Maddalena, Assistan

thanks to: RT

Teva bribes doctors

Two former Teva sales representatives are claiming that the company used speaker programs to disguise unlawful prescription kickbacks for multiple-sclerosis drug Copaxone and Parkinson’s treatment Azilect.

In a recently unsealed second amended complaint, the reps, Charles Artstein and Hossam Senousy, claim Teva devised an illegal scheme—including unlawful marketing and promotional and sales practices—to sway physicians to write prescriptions for Copaxone and Azilect. They allege that Teva paid them as “speakers or consultants in connection with sham speakers programs and events.” The two whistleblowers filed the complaint against Teva in Manhattan.

A Teva spokesperson told MM&M, “Over the past year, the US Attorney’s office in the Southern District of New York has been conducting an investigation and Teva has cooperated with all aspects of this investigation. The government investigation is now complete and we are pleased that the government has declined to participate further in the matter. The case is now a civil case; however the complaint has not yet been served and therefore, there is no pending deadline for a response.”

The plaintiffs allege that physicians were compensated between $1,500 and $2,700 for each speaker program they participated in and that the payments were disguised as honoraria. They say that the sales representatives would give physicians payments in green envelopes, which were meant to convey the “tacit message to physicians that the more scripts they wrote, the more money they made.”

A Teva sales director, Gary Smith, touted at a company meeting in 2013 that 80% of Azilect prescriptions are written by paid physicians, according to the complaint, and stressed the importance of continuing physician speaker programs as a way to drive greater sales.

The accusers note that the total number of speaker programs for both drugs was 1,329 in 2011— a sum that jumped to 5,036 in 2012. As of August 2013, approximately 4,600 programs had been completed or scheduled. The programs were staffed by 420 trained Copaxone speakers and 410 trained Azilect speakers. In 2013, certain physicians spoke 56, 60 or 80 times.

The plaintiffs claim that one doctor, identified as Dr. O.K. of Detroit, allegedly participated in 80 sessions, earning him an estimated $216,000 in annual honoraria, and that he wrote $200 million in Copaxone prescriptions per year.

The whistleblowers say that many of these speaker programs offered no educational purpose, had very few attendees and often recycled the same content. They allege that the same two topics were repeatedly presented for Copaxone, while Azilect programs often presented the same four topics.

The complaint alleges that in one Copaxone speaker program—attended by a single doctor and a Teva sales rep—the presenting physician “relegated his discussion to four cases from the New England Journal of Medicine, involving progressive multifocal leukoencephalopathy, a life-threatening disease associated with Biogen’s new oral [MS] agent, Tecfidera, none of which is relevant to Copaxone.” The complaint says the primary purpose of this program was to discourage the attending physician from prescribing Tecfidera.

The plaintiffs seek damages for violations of the False Claims Act.

thanks to: MM&M

#NataleApartheidFree – un mese di azioni di boicottaggio dei prodotti israeliani

Con l’acquisto dei prodotti israeliani ti rendi complice della violazione dei diritti umani, del diritto internazionale e finanzi l’occupazione, l’oppressione e l’apartheid israeliane.

Con un gesto etico puoi dire NO a questa economia di guerra e sostenere il popolo palestinese.

Partecipa al Mese di Mobilitazione per un #NataleApartheidFree: dal 29 Novembre al 24 Dicembre 2014! Organizza iniziative di boicottaggio e sensibilizzazione nella tua città: banchetti con volantinaggio, flash mob dentro centri commerciali/negozi, canti natalizi riadattati.

» Scarica il volantino finta pubblicità con i prodotti da boicottare

» Evento Facebook

Azioni in programma a Bologna, Cagliari, Firenze, Milano, Napoli, Palermo, Roma, Trieste, Varese. Dettagli coming soon.

» Comunica le iniziative a BDS Italia per essere elencate sul nostro sito: bdsitalia@gmail.com

Di seguito i prodotti da boicottare e link a volantini, immagini e altro materiale.

QUESTO NATALE FAI LA TUA PARTE: NON REGALARE L’APARTHEID!

Sodastream: Ditta israeliana che vende gasatori per l’acqua frizzante dal rubinetto e si spaccia per “ambientalista”, mentre la sua principale fabbrica di produzione è sita in una delle centinaia di colonie costruite illegalmente nei Territori palestinesi occupati. Nonostante l’annuncio di chiudere questa fabbrica, che attenda una conferma nei fatti, SodaStream rimane gravemente implicata nella violazione dei diritti umani del popolo palestinese. Infatti, il nuovo stabilimento a Lehavim è vicino a Rahat, una township creata da Israele nel deserto del Negev, dove i beduini palestinesi sono stati trasferiti contro la loro volontà.
» Volantini e immagini

TEVA: La multinazionale israeliana del farmaco Teva, ormai leader mondiale dei farmaci “generici”, fa affluire in Israele i suoi enormi entroiti, e le relative tasse,  finanziando così il regime colonialista di Apartheid israeliana. Rifiutando di acquistare medicinali TEVA, Ratiopharm o Dorom (consociate di TEVA), rifiuti di dare il tuo appoggio a chi contribuisce alla sofferenza del popolo palestinese. Basta chiedere al farmacista di sostituire il medicinale TEVA-Ratiopharm-Dorom con un altro equivalente di altre case farmaceutiche, spiegando il perché lo si fa.
» Cartoline e lettere per farmacisti e pazienti.

Prodotti agricoli: Le imprese israeliane che esportano prodotti agricoli sono tra i principali beneficiari della distruzione dell’agricoltura palestinese; operano nelle colonie israeliane all’interno dei territori occupati ed esportano i loro prodotti fuori da esse sfruttando terre e risorse idriche palestinesi rubate, beneficiando inoltre dell’assedio di Gaza. Infatti, i contadini palestinesi sono in prima linea nell’affrontare l’impatto delle confische di terra, delle demolizioni e del furto di acqua da parte di Israele e quelli che hanno ancora accesso alla terra e all’acqua affrontano sistematiche restrizioni e violenze. Inoltre, l’assedio a Gaza  impedisce loro di accedere alle attrezzature basilari, rende quasi impossibile l’esportazione di prodotti freschi, e li costringe a subire i continui attacchi dei militari israeliani. Alcuni dei prodotti e marche che si trovano in Italia, che variano in base alla stagione, sono: agrumi, pompelmi, (Mehadrin, Jaffa), datteri medjool (Mehadrin, Hadiklaim, King Solomon, Jordan River), frutta esotica, avocado, mango, melograni (Mehadrin, Kedem, Frutital, Sigeti, McGarlet), frutta secca.
» Volantino sui prodotti agricoli e sui datteri.

Hewlett Packard: Multinazionale che fornisce sistemi informatici al Ministero della Difesa israeliano e tecnologie per il controllo del movimento ai checkpoint a Gaza e in Cisgiordania. L’attrezzatura HP è usata dal sistema carcerario e dall’esercito israeliano, e l’azienda ha anche investito nello sviluppo tecnologico degli insediamenti illegali, prendendo parte al progetto Smart City ad Ariel. In Italia, i computer, stampanti e inchiostro HP si vendono nelle maggiori catene di elettronici.
» Poster per la campagna

Ahava: L’impianto produttivo dell’impresa di cosmetici Ahava si trova a Mitzpe Shalem vicino al Mar Morto e a sud della città palestinese di Gerico, in una colonia israeliana illegale nella Cisgiordania occupata. Perciò, in base alle nuove linee guida dell’Unione Europea riguardanti gli insediamenti israeliani, Ahava è stata esclusa dai progetti di ricerca europei e non riceverà più finanziamenti dall’Europa. Nel 2011, i giurati alla sessione di Londra del Tribunale Russell sulla Palestina hanno affermato che Ahava è responsabile per il “saccheggio” delle risorse palestinesi. In Italia si vende in alcune farmacie, erboristerie, profumerie e grandi magazzini come la Rinascente.

Sabon: La società di saponi e cosmetici Sabon trae profitto dalla pulizia etnica del popolo palestinese. Le sue fabbriche hanno sede a Kiryat Gat; una città costruita sui villaggi etnicamente puliti di al Falluja e l’Iraq al-Manshiyya. Inoltre, mentre ai Palestinesi ne viene negato l’accesso, Sabon può sfruttare a suo piacimento la ricchezza e l’estrazione minerale del Mar Morto. In Italia, dove si sta aggressivamente promuovendo come regalo di Natale, Sabon ha negozi a Roma, Milano, Napoli, Firenze e Lecce.

Azioni Online:

1. Segui @bdsitalia su twitter e tweeta con l’hashtag #NataleApartheidFree

2. Firma la petizione a Esselunga: Togli il premio SODASTREAM dal tuo catalogo premi Fidaty

3. Invia un messaggio all’amministratrice della HP: Basta complicità con l’occupazione e l’apartheid israeliane:

4. Aderisci alla campagna italiana contro Sodastream firmando l’appello

5. Partecipa all’evento Facebook

6. Crea una Pagina Facebook per gli eventi organizzati nella tua città e tagga BDS Italia

7. Segui e condividi la campagna BDS Italia.

Idee per Azioni locali:

Risorse online, video e foto di azioni dimostrative organizzate negli anni passati:
http://usceio.tumblr.com/tagged/sodastream2013

A Roma canti natalizi contro Sodastream
http://www.youtube.com/watch?v=FUYPOaV1u7c

A Brisbane danzano contro Sodastream
https://www.youtube.com/watch?v=ajQCUSoMr3Y

A Melbourne flash mob dentro centro commerciale
https://www.youtube.com/watch?v=qegS4iXeQ2c

A Vancouver canti natalizi contro Sodastream
https://www.youtube.com/watch?v=a2RX_HdqxIw

thanks to: BDS-Italia

Campagna di boicottaggio farmaceutico contro Teva, Ratiopharm e Dorom: un farmaco deve portare con sè un certo valore etico!

Teva Pharmaceutical Industries LTD. è una compagnia farmaceutica israeliana presente anche in Italia, insieme alle sue consociate Ratiopharm e Dorom, leader di mercato dei farmaci generici.

Come Teva trae vantaggio dall’occupazione dei Territori Palestinesi?

Come risultato del Protocollo di Parigi i farmaci venduti nel TPO, con l’eccezione di quelli fabbricati in loco, devono essere approvati in Israele. Al contrario, nonostante il carattere bilaterale del Pacchetto Doganale, i prodotti farmaceutici palestinesi non possono essere registrati in Israele per “motivi di sicurezza”. La “libera circolazione” delle merci, quindi, è unilaterale, da Israele al TPO, e gli standard sono fissati secondo gli interessi di Israele.

Il fatto che l’importazione di farmaci in Cisgiordania e nella Striscia di Gaza sia consentita soltanto per i medicinali registrati in Israele implica che tutto il mercato arabo (tranne rari casi) è inaccessibile alla popolazione e all’industria farmaceutica palestinese. Il mercato palestinese non è quindi in grado di mantenere relazioni di importazione o di esportazione con i suoi mercati più vicini e naturali. Altri importanti prodotti farmaceutici cui è negato l’accesso nel TPO sono i farmaci generici a basso prezzo prodotti in gran parte in India, Cina e negli Stati della ex Unione Sovietica. Tale esclusione deriva dal fatto che i farmaci registrati in Israele sono principalmente importati dall’UE, Nord America e Australia.

Le società israeliane e le multinazionali farmaceutiche beneficiano della situazione sopra descritta in diversi modi. In primo luogo, dalle quattro imprese maggiori, originariamente israeliane (Teva, Perrigo Israele – ex Agis, Taro e Dexcel Pharma) a quelle piu’ piccole (come Trima), tutte le aziende israeliane hanno un facile accesso al mercato palestinese, senza grossi problemi alle dogane e ai checkpoint, come le operazioni di carico e scarico delle merci con cambio di camion ai posti di blocco; inoltre, non devono apportare modifiche a nessuno dei loro prodotti per venderli nel Territorio palestinese occupato. 

L’industria farmaceutica israeliana usa questa sua posizione privilegiata, dovuta all’aiuto del governo e alla occupazione militare del territorio palestinese, senza tuttavia ammetterlo.

Nella sua relazione del 2009 sulla responsabilità sociale, la multinazionale Teva ha dichiarato di aver aderito all’iniziativa globale per affermare i valori di responsabilità sociale e ambientale tra le imprese multinazionali. L’iniziativa comprende, tra le altre, un impegno in materia di diritti umani, commercio equo e rispettose condizioni di lavoro. Teva è la leader dell’industria farmaceutica israeliana e quindi il suo dispregio verso le problematiche relative all’occupazione militare della Palestina è indicativo dell’atteggiamento neocolonialista prevalente.

 

Campagna di boicottaggio farmaceutico

Un farmaco è un prodotto particolare, utilizzato per migliorare o salvare la vita delle persone e dovrebbe dunque portare con sé un certo valore etico.

E’ inammissibile che il ricavo di alcuni farmaci vadano a finanziare un regime quotidiano di colonialismo, occupazione ed apartheid come quello israeliano.

Quest’estate, durante l’operazione militare israeliana “Margine Protettivo”, che ha portato alla morte di più di 2.100 palestinesi e al ferimento di più di 10.000 persone, con ospedali e scuole delle Nazioni Unite bombardate e danneggiate, nel Regno Unito è partita una massiccia campagna di boicottaggio contro la TEVA, con più di 300 farmacie che hanno dato la propria adesione.

Chiediamo quindi:

– Ai farmacisti: di comunicare alle ditte consociate Teva, Ratiopharm e Dorom che, a tutela del valore etico del farmaco che viene dispensato, non verranno più commercializzati i loro prodotti (compatibilmente con le necessità terapeutiche del singolo paziente), sino ad una eventuale loro presa di posizione scritta contro le politiche di aggressione indiscriminata dello Stato israeliano.

– Ai pazienti: di rifiutarsi di acquistare i farmaci delle ditte TEVA, RATIOPHARM e DOROM chiedendo al proprio medico e al proprio farmacista, quando sia possibile, di sostituire il medicinale con altri uguali, ma di ditte diverse; ne si ha il diritto ed il costo a carico del paziente è esattamente lo stesso.

» Scarica la lettera da consegnare al tuo farmacista

» Scarica la lettera da consegnare ai pazienti

» Scarica la cartolina da ritagliare e spedire per posta alle farmacie o alla sede TEVA

BDS Italia

www.bdsitalia.org

bdsitalia@gmail.com

BDS Italia è un movimento per il boicottaggio, disinvestimento e sanzioni contro Israele, costituito da associazioni e gruppi in tutta Italia che hanno aderito all’appello della società civile palestinese del 2005 e promuovono campagne e iniziative BDS a livello nazionale e locale.

TEVA go out!

August 28, 2014 | By

After trying nearly everything in its power to protect lead product Copaxone from early generic competition, Teva just received some news it least wants to hear: Copycats are going after its new, long-acting version of the drug, too.

Thursday, both Mylan ($MYL) and a team comprising Momenta Pharmaceuticals ($MNTA) and Novartis’ ($NVS) Sandoz said the FDA had accepted their ANDAs for three-times-a-week generic Copaxone. Assuming Teva ($TEVA) sues for patent infringement, triggering an automatic 30-month stay, the multiple sclerosis knockoffs could be on the market as early as the first quarter of 2017.

Teva is already wrapped up in patent litigation over the original formulation of Copaxone, which recently saw its patent life truncated 16 months early. That court decision put more than half the company’s profits in jeopardy, and Teva has tried a variety of maneuvers to shield its top seller.

One of those has been changing patients over to the new, more convenient version of the drug, which won FDA approval early this year. So far, the Israeli pharma’s conversion rate has surpassed analysts’ expectations: As of early this month, 51% of patients had made the jump, and Teva now expects that number could rise to 65% by year’s end.

While 2017 is still a long ways off, it’s much sooner than the Petah Tikvah-based drugmaker might have expected competition for its newcomer. Mylan and the Momenta/Sandoz tandem aren’t the only rivals it’s battling, either: As StreetInsider reported earlier this month, the company received notice from India’s Dr. Reddy’s Laboratories that it had submitted its copy for FDA approval, too, and Teva said it intended to file an infringement suit.

In the meantime, Teva is waiting to hear back from the FDA on a citizen petition it filed last month for full-scale, placebo-controlled clinical trials for all Copaxone copies. And in October, the Supreme Court will begin hearing its appeal in the original patent infringement case.

thanks to: FiercePharma

BOICOTTAGGIO TEVA in Sardegna

E’ da circa un mese che abbiamo ripreso a lavorare sul boicottaggio ad Israele in maniera continuativa. Stiamo lavorando in particolare sia sul boicottaggio sportivo e culturale che su quello economico.

Ovviamente stiamo collaborando con gli altri gruppi alla costruzione di una opposizione massiccia all’ utilizzo da parte di Israele delle nostre basi per esercitazioni militari e come piattaforma di partenza di aerei che poi vanno a sganciare le loro bombe sulla popolazione palestinese. Abbiamo iniziato un lavoro a tappeto sui prodotti farmaceutici TEVA. Abbiamo già contattato quasi tutti i farmacisti di Cagliari e Monserrato e una parte di Quartu (più alcuni medici) ed abbiamo volantinato in giro per la città.

A settembre dedicheremo alcune domeniche a dei banchetti informativi da tenersi a Monte Claro. Chiunque volesse lavorare con noi può contattare me oppure scrivere alla mailing list del “comitato contro le stragi e l’apartheid” noapartheid [at] googlegroups [dot] com oppure avvicinarsi in via Lanusei 19 il martedi dalle 18 alle 20.

Tutto il materiale in allegato può essere utilizzato in qualsiasi zona, sia la lettera che il documento ed il volantino. Invito a fotocopiarlo e diffonderlo, nella speranza che la Sardegna, e non solo, possa primeggiare in questa campagna.

Allegato Dimensione
TEVA lettera a medici e farmacisti.pdf 63.51 KB
Volantino Teva 24-08-2014.pdf 65.69 KB
Informativa BOICOTTAGGIO TEVA.pdf 65.72 KB

UK pharmacies boycott Israeli pharmaceutical company TEVA

British pharmacists are boycotting Israeli-based generics manufacturer TEVA over the ongoing siege of Gaza and the illegal occupation of Palestine.

Ghulam Esposito Haydar, a regular contributor to 5Pillarz and a key member of the boycott campaign said that hundreds of pharmacy contractors across the country were no longer accepting products from TEVA, which has a presence in around 60 countries. The group hopes it will pressure both the British government as well as the Israeli regime to change its policy towards the Palestinian people.

1,356 Palestinians have been killed and more than 8,000 injured by the Israeli army in Gaza.

The following Press Release was issued by the group behind the campaign:

“The #BoycottTEVA Campaign is an industry initiative for ethical buying of generic drugs within the UK. It is prudent to declare that patients’ safety is at the foremost interests in this campaign and boycotts will only be affected with patient consent and alternative medication continuity. The campaign is not a politically or religiously motivated but rather based on ethics of trading with an entity affiliated to a country with an active apartheid system in place. The boycott has only been initiated after lengthy deliberations and consultations on the impact of the boycott on patients and the sector in general. Measures are in place to ensure non-disruption of essential and non-essential medications in areas where the boycott is being initiated.

The growing concern regarding the situation of the Palestinian people enforced onto them by the Israeli regime both in Gaza and the West Bank is becoming even more distressing. Israel continues to enrich itself through the occupation policies of the West Bank, East Jerusalem and the Gaza Strip, through policies of apartheid and ethnic cleansing that continue to oppress the Palestinian people, through land confiscation, military violence and the illegal siege of the Gaza Strip.

tevaThe Palestinian people are treated as second class citizens in their own land. The siege that currently envelopes the Gaza strip collectively punishes an entire refugee population for the alleged crimes of a few. The access of basic energy supplies, food and medicine are heavily restricted. Every so often, tensions flare up in this region and Israel indiscriminately kills many civilians mainly consisting of innocent women and children.

As players in the pharmacy industry, we have the ability to put some measure of pressure to stop this from continuing through the BDS (Boycotts, Divestment & Sanctions) Movement.

TEVA pharmaceutical products are a big part of pharmaceutical industry. TEVA is the world’s leading generic drug maker, with a range of more than 1,000 pharmaceutical lines with a presence in around 60 countries. The company currently employ approximately 45,000 people around the world and reached $20.3 billion in net revenues in 2013. TEVA supply more packs of medicine to the NHS each year than anyone else – that’s around 15% of total packs of medicine in the UK. Millions of patients use their medicines. They estimate that, on average, every second of every day, over 250 tablets or capsules supplied by them are taken by patients all around the UK.

The US along with the UK and France are Israel's biggest allies.

The Paris Protocol, which regulates the financial relations between Israel and the Palestinian Authority, is a significant part of the 1993 Oslo Accords. The Protocol placed Israel and the future Palestinian state under the same taxation envelope. In general, this means that Palestinians continue to depend on Israeli policies, customs laws, and services for the import and export of goods. Moreover, the Israeli Ministry of Health insisted that the import of drugs to the West Bank and the Gaza Strip would be allowed only for drugs that are registered in Israel. This decision implied that the neighbouring Arab market (with minor exceptions) would be denied to the Palestinian population and pharmaceutical industry. The Palestinian market is thus unable to maintain import or export relations with its closest and most natural markets. Other important pharmaceutical products that have been denied access are the cheap generic drugs manufactured largely in India, China, and the former USSR states. This exclusion stems from the fact that the drugs registered in Israel are mainly imported from the EU, North America and Australia.

As in other cases, economic interests are often disguised as ‘security reasons’. This can be demonstrated in the Palestinian industry’s inability to send drugs in bulk (usually to large pharmacy chains in Europe and North America) via the close-by Ben Gurion Airport. Hence, the goods are shipped through Jordan with a heavy levy of added costs. Uniquely in the case of pharmaceuticals, ‘quality reasons’ are sometimes used in conjunction with economic and political justifications. One such case is the refusal to allow Palestinian pharmaceuticals into occupied East Jerusalem medical institutions – hospitals and pharmacies – and even vaccines given at Palestinian-run schools. At other times, political and economic reasons are intertwined in the humiliation of an occupied people. This is seen in the demand of Palestinian representatives of large multinational companies to request a ‘non-objection’ letter from their Israeli colleagues in order to receive an import license from the Israeli Ministry of Health. This demand must be met by authorized Palestinian representatives even in the absence of such requirement from their Israeli counterparts.

Israeli bombardment of Gaza began on July 7.

Due to the above mentioned restrictions by the Israeli regime, Israeli and multinational companies enjoy the aforementioned situation in several ways. From the four largest, originally-Israeli companies (Teva, Perrigo Israel – formerly Agis, Taro and Dexcel Pharma), to smaller companies (such as Trima), all Israeli companies enjoy easy access to the Palestinian market, free of customs and checkpoint disturbances (e.g. change of trucks at cargo checkpoints). The Israeli manufacturers and agents do not have to amend any of their products in order to sell them in the Occupied Palestinian Territories. As a result, Israeli and multinational companies can sell drugs that are not labelled in Arabic to an Arabic speaking population.

Is boycotting effective? 

TEVA is one of Israel’s main contributors to its economy which considerably to the Israeli Defense Force. TEVA paid the state of Israel $565M last year in taxes accrued from 2005. The Israeli Defense Force expenditure accounted for 5.5% of Israel’s GDP which is about $16.5 Million.

Since we launched the campaign to #BoycottTEVA on 18th July 2014 approximately 300 pharmacies nationwide have joined the boycott. We are anticipating many more to follow suit from the snippets of news that are trickling in.

It is inevitable that some pharmacies may still stock certain lines of TEVA products out of necessity due to one or more reasons such as a lack of alternative or patient preference. We aim for this to be absolutely minimal via education and recommendation of alternatives.

We hope to put a multilayered campaign together highlighting this ethical dilemma to:

1) Patients

2) Pharmacists & Pharmacies

3) Wholesale distributors who supply pharmacies

4) GPs

5) Clinical Commission Group (CCG) medicines management agencies (decide on prescribing formulary/budgets)

6) The Pharmacy Defense Association (PDA) which campaign on the behalf of Pharmacist

7) The Local Pharmaceutical Commission (LPC) who bid for pharmaceutical services and interests on behalf of pharmacists.

8) The General Pharmaceutical Council (GPhC) which is the regulatory authority for Pharmacists.

BDS

boycott_divestment_sanctions_560The Boycott, Divestment and Sanctions (BDS) campaign is expanding and intensifying throughout the world, and continues to have an impact on the image of a country, Israel, which despite the occupation of Palestine and the policies of apartheid still refers to itself as “the only democracy in the Middle East”.

The objective of this campaign is to put pressure on both our government as well as the Israeli regime to change its policy towards the Palestinian people. We hope that application of pressure by means of boycott will help send a message to our cabinet that the people of the United Kingdom will no longer tolerate atrocities and crimes against humanity being committed against the Palestinian population.”

Participants

Murtaza Master, owner of the Masters group of pharmacies in the West Midlands, has written to his suppliers to request his six pharmacies were no longer supplied with TEVA products. Mr Master’s letter said the chain would “endeavour to phase out Teva purchases over the next 12 months”.

Nadim Tahir, manager of online pharmacy iPharm UK, has said that he had first heard about the campaign via social media. “It’s not about religion, it’s about humanity,” said Mr Tahir. “We’re not ordering anything from Teva and we’re talking to patients and explaining why this boycott is taking place.”

Amir Riaz, owner of online pharmacy i-Dispense, described the cost of boycotting TEVA as “marginal”. He said:  ”I had a meeting with the partners and we concluded that it wouldn’t harm the business or patients – that’s when we decided to avoid TEVA.”

Asad Khan, manager of Elaj pharmacy in Leeds, told C+D said that his boycott had been prompted by requests from patients for an alternative to TEVA’s generics. He added: “After what has been taking place in the Middle East, people are more aware about where their brands are coming from. I think pharmacists are taking it upon themselves.”

Shaheed Fazal, director of the Dispharma pharmacy chain in the West Midlands, said the boycott was an “ethical stand” that he hoped would bring about a “sustainable solution to the conflict”.

You can support the Boycott TEVA by “liking” their Facebook page on the following link:

https://www.facebook.com/BoycottTEVAPharmaceuticals?fref=ts

Sources

Boycott TEVA

thanks to: 5pillarz

Israel: Assessing The Cost Of War

Summary

  • Israel’s markets have shown resilience but optimism could evaporate if the war continues to drag.
  • The conflict is now about as old as the 2006 Lebanon war.
  • The country’s GDP growth could take a hit, but what about the nation’s biggest listed company Teva Pharmaceuticals?
  • Can this war boost growth of Elbit Systems, Israel’s leading listed defense company?

The bloody conflict between Israel and Hamas rages on, despite cease-fires and truce talks. So far, more than 1,886 Palestinians and 67 Israelis have lost their lives. In addition to the tragic loss of life, it is becoming increasingly clear that the ongoing conflict could be one of the most expensive ones for Israel.

Market Resilience

Initially, Israel’s stock markets reacted positively to operation Protective Edge. In the first ten days of the operation, Israel’s two leading indices, the TA-100 and TA-25 climbed by 1.4% and 1.6% respectively. This could be due to a number of factors.

Firstly, the current situation is nothing new for the markets that have witnessed several military operations over the last ten years, from Operation Rainbow in 2004 to Operation Pillar of Defense in 2012.

Secondly, both indices, particularly TA-25, feature some of the biggest Israeli companies, such as the world’s biggest generic drug maker Teva Pharmaceutical (NYSE:TEVA). These are global companies that do not depend heavily on Israel’s market. For instance, in the first six months of this fiscal year, Teva Pharmaceutical generated more than 81% of its revenues from the U.S. and Europe while the remaining came from its “rest of the world” segment which includes Israel, among other nations.

However, the market sentiment appears to be changing slowly. Since Israel began the ground offensive in Gaza, both TA-100 and TA-25 have fallen by 2% and 1% respectively, wiping off nearly all of the gains made in the prior weeks. Overall, since July 8, the TA-100 has fallen by 0.6% while TA-25 is up 0.5%.


So what has caused the markets to change its opinion? Again, this could be due to a number of factors but I believe that it is mainly because the conflict has dragged longer than market’s expectation. Inventors were probably thinking that the military operation would conclude by early August. This is evident in the prediction of one of Israel’s leading investment houses (mentioned below). However, the current conflict has already lasted nearly as long as the previous war with Hezbollah/Lebanon in 2006 which went on for 31 days. Moreover, the fighting does not appear to be coming to its logical end. As of the writing of this article, both Hamas and Israel were still engaged in rocket fire.

Secondly, following forecasts from various financial institutions, including the IMF and Israel’s central bank, the markets are now beginning to realize that this war could actually hurt Israel’s economic growth.

Missing Deficit Target

Fitch Ratings has said in a note released on Thursday that Israel might miss its budget deficit target for the current year, unless it beats market expectations for growth in the first half of fiscal year 2014. Israel’s Central Bank has said that the war could cost $1.44 billion, or up to 0.5% of GDP.

(Update August 13, 2014: Recent media reports have estimated the total cost of the month long war to be between $2.5 billion and $3.6 billion)

Israel’s investment company and the country’s biggest pension fund manager Psagot Investment House was a bit more optimistic by saying that the war will cost Israel around 0.25% of GDP growth. That said, Psagot’s estimates, which came out around two weeks ago, assumed that fighting would continue for about 10 more days.

Israel’s tourism sector could take the biggest hit and it could take a while for it to recover.
According to Psagot’s initial estimates, the industry could end up losing more than $1 billion due to this conflict.

In short, Israel’s current war with Hamas will likely have some negative impact on the country’s GDP growth which could hit stock returns this year.

Defense Spending

On the other hand, wars are great for companies operating in the defense industry. Israel will likely increase its defense spending in the future. This could be good news for Elbit Systems (NASDAQ:ESLT), Israel biggest publicly listed defense electronics company valued at $2.6 billion.

Elbit has recently released its quarterly results that came in better than analysts’ estimates, thanks to the cost-cutting initiatives. The company’s revenues were $702.6 million, flat from the same quarter last year, while its income dropped by 11.5% to $43.9 million. The drop in earnings was largely due to one-off items. In adjusted terms, the company’s income improved by 4.4% to $52.6 million. The company’s backlog, by the end of June, stood at $6.1 billion, up from $5.8 billion a year ago.

That said, while the ongoing conflict might result in an uptake in orders from Israel, it is unlikely to cause a significant increase in Elbit Systems’ revenues or income. This is because Elbit Systems, like Teva Pharmaceuticals, is also a global company which generates more than three-quarter of its revenues from outside of Israel.

The company has been focusing on expanding in the emerging markets of Latin America and Asia, amid increasing competition from industry titans Lockheed Martin (NYSE:LMT) and Raytheon (NYSE:RTN) at home and in North America.

In the previous quarter, Elbit Systems generated 24% revenues from Israel while 76% came from its international customers. The company has also said that 72% its current backlog is related to orders outside of Israel.

The bigger beneficiaries might be the Israel focused defense companies, such as the government owned and privately-held Rafael Advanced Defense Systems, maker of the Iron Dome missile defense system.

Final thoughts

Israel’s stock markets have been resilient but as the conflict drags along, the optimism could fade away. The longer the war continues, the bigger will be its impact on Israel’s GDP growth.

The fortunes of some of the largest blue chip TA-25 companies, such as Teva Pharmaceuticals or Elbit Systems, might not change as they generate a significant portion of their revenues from international markets. However, smaller companies that get most of their income from Israel, particularly those with exposure to the country’s tourism industry, could struggle with growth.

 

thanks to: seekingalpha

TEVA, non merci, je n’en veux pas !

Le laboratoire TEVA, qui omet toujours de signaler qu’il est israélien, (on se demande bien pourquoi !) annonce qu’il s’est trompé et a mis des somnifères à la place d’un diurétique dans quelque 200.000 boites actuellement en pharmacies. Nos lecteurs n’auront pas de boites à rapporter, étant donné qu’ils préfèrent ne pas consommer des médicaments venant d’un Etat qui empêche les Palestiniens de se soigner, et qui largue des bombes au phosphore sur les populations civiles !

Nous rappelons à tous les consommateurs qu’ils ont parfaitement le droit de choisir la marque qu’ils veulent parmi les génériques, et qu’aucun pharmacien ne peut leur imposer ceux du fabricant israélien TEVA.

Le pharmacien propose, le client dispose. C’est la règle, et celle-ci veut même que le pharmacien fournisse un générique d’une autre marque, si le client ne souhaite pas aller se le procurer dans une autre pharmacie qui s’approvisionne auprès d’autres laboratoires de génériques.

lefigaro.fr

thanks to: EuroPalestine